- Revenue Report Credit Note affecting Collected Amounts
- Clio Web App
This can occur when you have applied a Credit Note to a Bill. The Credit Note will decrease the total outstanding on the Bill by a percentage of the total (and this is shown in the Credit Notes column on the Revenue Report). Any other Payments on the Bill will be split between the Time and Expense Entries so that the same percentage of the total is paid off.
For example, if you have a Bill with $1,000 of Time Entries and $250 of Expense Entries. You apply a Credit Note of $250 (the total amount of the Expense Entries) and then receive a $1,000 payment.
On the Revenue Report, this would show as the following:
Credit Note = $250 (which is 20% of the total outstanding balance)
Collected Time = $800 (which is the total amount of Time on the Bill, less 20%)
Collected Expense = $200 (which is the total amount of Expenses on the Bill, less 20%)