Credit Note - Recurring Payment
Credit Note can be raised against the invoice which allow user to update the Repayment Plan based on Credit Note raised.
Existing functionality of Credit Note will remain the same.
This applies to Credit Notes containing a value in the Credit Note Invoice Number field (orhe_CreditNoteInvoiceNumber).
This function must manage any unpaid instalments on the corresponding Invoice, and ensure payment amounts are reduced by the value of the credit note.
The Credit Note amount will reduce each installment progressively, adjusting the Payment Amount to show the balance owing.
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If the Installment settled in full (Repayment Amount = $0) status will be changed to "Credited"
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If the installment is paid partially (Repayment Amount > $0) status will be changed to "Paid Partially"
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If full invoice due amount is settled with a Credit Note, installments with "Unpaid" status will be changed to "Credited".
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Call will be sent to opuspay inactivate the recurring token created against the payment plan and init token will be null in the database (If the init token is registration incomplete, token will be called to expired).
If there is more than 1 instalment on the invoice, or more than 1 transaction written against an instalment, the credit note amount is progressively applied to each instalment:
- the Receipt Date displays the date of the credit note
- the Repayment Amount is progressively reduced by the amount of the credit (remaining)
- the Receipts is progressively increased to the value of the instalment
- the Payment Status is updated per 1) and 2) above.
Paid Amount will be separately maintained in repayment plan which will added credit note value to paid amount and it will considered in calculating due repayment amount if installment paid via payment processor
EXAMPLE 1
Invoice = $5,000
Credit Note posted = $2,000 on 10/3/2023
|
Repayment Number
|
Repayment Date
|
Receipt Date
|
%
|
Repayment Amount ($)
|
Receipts
|
Payment Status
|
|
1
|
30/03/2023
|
10/03/2023
|
33.33
|
0.00
|
1,666.50
|
Credited
|
|
2
|
30/04/2023
|
10/03/2023
|
33.33
|
1,333.00
|
333.50
|
Paid Partially
|
|
3
|
30/05/2023
|
|
33.34
|
1,667.00
|
0.00
|
Unpaid
|
In this example, the next automated payment via payment processor falls due on 30/04/2023 for $1,333.00
Payment process will only charge Repayment Amount remaining from the installment.
Installment which was marked as credited will be removed from the payment processor
EXAMPLE 2 - mix of Receipts + Credit Notes
Invoice = $5,000
Manual Receipt = $2,000 on 10/3/2023
Credit Note posted = $3,000 on 12/3/2023
|
Repayment Number
|
Repayment Date
|
Receipt Date
|
%
|
Repayment Amount ($)
|
Receipts
|
Payment Status
|
|
1
|
30/03/2023
|
10/03/2023
|
33.33
|
0.00
|
1,666.50
|
Paid
|
|
2
|
30/04/2023
|
12/03/2023
|
33.33
|
0.00
|
1,666.50
|
Credited
|
|
3
|
30/05/2023
|
12/03/2023
|
33.34
|
0.00
|
1,667.00
|
Credited
|
In this example, there is no balance remaining on the instalments, and no entries in a status of Unpaid or Paid Partially, the Payment Processor will ignore these repayments.
Installment which was marked as credited will be removed from the payment processor
NOTE:
repayment 2 was first Paid Partially by the Receipt. Then updated by the Credit Note:
Repayment Date = Credit Note Date, Repayment Amount reduced to $0, Payment status set to Credited.
if the amount of the Credit Note exceeds the Repayment Amount(s) outstanding, each instalment is reduced to $0 and status changes to Credited.
No action is required for the "extra" value of the Credit Note.
Payment schedule (Repayment Plan) should track credit note raised against each installment. It should also include the settle amount against the receipt.
If an installment is credited/ partially paid from a Credit Note, payment link already sent along with payment notice should be invalided and if there any balance repayment payment amount due, new payment notice needed to be sent with recalculated outstanding amount.
