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Crediting invoices not created in Iteras

Updated yesterday

When starting out with Iteras and bringing in existing subscription periods that were invoiced in the previous system, you may, typically upon cancellation, need to issue a credit for something that was invoiced in the old system and refund money.

Iteras can handle this automatically by registering the credit note on behalf of the previous system.

If this results in a credit balance, the funds need to be transferred from the previous system to Iteras. This also happens automatically by registering an internally posted payout (money leaving the old system) and a corresponding internally posted payment (money entering Iteras). The payment amount can then be applied to an invoice or refunded in the usual way.

To activate this, make sure during the import to fill out a field on the imported periods with the amounts that were invoiced, credited, paid, and refunded. Then, when crediting is needed—e.g., a remaining amount upon cancellation—Iteras will calculate the values as if the transactions had occurred within Iteras.

Everything is handled through internal postings in Iteras. The old system is only relevant during the import process.

For subscriptions imported without financial data, Iteras will, upon cancellation, conclude that nothing was invoiced for the period, and therefore no credit or refund of any remaining amount can be made.

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