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Approving credit note

Every credit note created or modified in Fusion Cash Management (FCM) must be approved. FCM uses Maker-Checker method for approval.

To approve a credit note

1.     Navigate to SCF.

2.     Click Invoice Center >> Credit Notes. The Credit Note page displays the list of existing credit notes.

3.     Select the required credit note to be approved.

4.     Click Approve.

These credit notes are then reconciled with the outstanding Invoices either at EOD or when the bank user initiates the reconciliation process. Once the Invoices are reconciled, the outstanding amount of the Invoices is reduced to the extent of the credit note.

·        You can approve credit note with the Submitted status only.

·        After approval, the status of the credit note changes to Approved.

·        You can also reject the credit note using the above method. Select the credit note and click Reject. Specify the reject remark on the popup and click OK.