You can use the Credit Memo feature to issue credits to a client. These credits can be applied to a prior balance or a future invoice. Credits also allow your firm to pay for an expense and then pass that expense through to your clients. If your firm receives a partial or full reimbursement, you can give that amount back to the client in the form of a credit.
How to Add a Credit Memo
Applying a Credit to an Invoice
Credits, Bulk Finalize, and Pay
Credit Memo Ledger
Applying Credit to Outstanding Invoice
Credit Memos and Reports
Add a Credit Memo
Credit Memos can be added in several spots throughout Smokeball.
From the Create New button in the Smokeball web app:
From the Matter and Contact screen:
From the Transactions tab in a matter file:
When you choose to add a credit, a pop-up will appear, allowing you to input the credit's details.
Apply a credit to an invoice
To incorporate Credit Memos in to Finalize with Payments, settings are updated under the Accounts (1) > Finalize with Payments (2) section to include Credit. Credit will be in the first position as default, but you may reorder this to match your preference.
You will be able to apply credit upon finalizing a draft invoice. This will show on the invoice.
Applied Credits will appear on the invoice in the totals section as well as the payment summary.
Credits, Bulk Finalize, and Pay
Credits can be incorporated in to your Bulk Finalize and Pay process:
Select At least $xx in Credit filter to only show matters with a draft invoice with a credit balance.
Credit Memo Ledger
The Credit Memo Ledger in the Accounts View shows all credits entered or applied to their respective sections.
When reviewing invoice lists on a matter, contact, or global level, check the credit column to see the credits applied to that invoice.
Credits applied will also appear on the right totals panel when viewing a finalized invoice. Credit that can be used to apply to the invoice will also show here.
Apply Credit to Outstanding Invoices
Credits can also be applied to an outstanding invoice be selecting Add Payment and choosing credit as the payment type or by selecting the Pay Now link next to credit in the invoice preview.
Credit Memos and Reporting
The Account Statements, Accounts Receivable, Invoice History, Ledger Export, and Matter Balances reports all include column(s) for credit. Additionally, the Credit History report shows all credits added and applied.