You can create Credit Notes in Streamtime to record payments you’ve taken, but want to apply to other jobs. For example, if a client has paid a deposit for a certain scope of work and the scope changes, you may want to create a credit note to apply towards a revised quote. You can create a credit note on one job to apply as a payment to an invoice for any other job for the same company.

There are two ways of creating credit notes in Streamtime.

Create a blank credit note by selecting Create > Credit Note. This will create a blank credit note document. You can also create a blank credit note from the Invoices list on a job.

You can add line items and expenses from your master list, or simply blank items. If you add line items from your master lists, they’ll come through as negative values.

The total of a credit note needs to be negative, as it represents a credit to the customer.

Best used for when you need to credit back an invoice you’ve already been paid, or part thereof. Create a credit note from any existing invoice using the 3-dot menu on the right. You’ll see an exact copy of that invoice with negative items and assigned taxes to be credited. If you need to only credit part of an invoice, you can remove the items that have been paid.

Credit note numbering can use an existing invoice numbering sequence, or a new one.

You can share a sequence for both invoices and credit notes: eg, an invoice is created with 001, a credit note created with number 002, the next invoice will be created with 003, and so on.

You can also have separate sequences for your invoices and credit numbers: eg, an invoices is created with 001, a credit note created with number 001, the next invoice will be created with 002. This does mean both will appear in searches, but you can use prefixes here to differentiate.

Set up your credit note numbers through the branch or integration. Learn more about numbering sequences here.

Credit notes use the same statuses as Invoices, and will tally similarly on the job.

For example, if you have $10,000 invoices awaiting payment, and -$5,000 in credit notes awaiting payment, you’ll see $5,000 invoiced in your total. Once a credit is applied, its total will be noted as paid.

Sometimes you have a credit note on job for a company that you need to apply to a different job. Good news: you can!

When you record a payment in Streamtime, you’ll see a box appear if there is credit remaining to be used from any credit note on a job. Check the box and select the credit note you’d like to use against the invoice and away you go.

You might want to mark a credit note as paid without applying it to an invoice. You can record a payout on a credit note just like you can on an invoice, and the figures on your job will update.

Credit notes can be sent to Xero, but not Quickbooks or MYOB at this stage. Find out more about connecting to Xero here.

Credit notes and invoices are linked, so when you apply credit to pay an invoice, both Streamtime and Xero will update. We recommend sending your credit note to Xero as soon as it's ready, before using it to apply credit to an invoice, as this will avoid potential errors when you want to use it to apply credit later.