VAT confirmation for credit notes

Requirement

In this country, the receipt of credit notes that are issued to customers must be approved. Customer credit notes and foreign invoices can be included in VAT reports only after the customer has received them and sent back a confirmation.

M3 solution

In M3, a reference from the credit note to the original invoice can be set. Both the credit note and the original invoice are updated with this reference.

In the Czech Republic, credit notes can be set as on hold for VAT reporting. In M3, a specific function is available for listing all on-hold credit notes and for releasing them for VAT reporting.

The automatic handling of the on-hold status for credit notes is supported only in the Customer Order Processing (COM) module and for credit notes that have been manually created in the Accounts Receivable Ledger (ARL) module.

Configuration guidelines