Procedure: Credit Note
This procedure outlines the internal control framework around the raising and approval of credit notes. Credit notes are used to correct invoicing errors.
They are not used to forego a legal debt owing to the University or to alter invoices due to a claim made by a debtor against the University for a breach of the terms and conditions of a contract.
Where a claim is made against the University for non- performance or a breach of contract, this matter is referred to the Chief Financial Officer (CFO) and the Legal Office in the first instance. The Legal Office then advises the CFO on how the legal claim is managed by the University.
- Credit notes are raised by the Division of Shared Services (DSS).
- Business areas complete a Request for Credit Note form with:
- supporting documentation (such as an email from the customer); and
- sign-off by the relevant Finance Manager in a College or Portfolio.
- The credit note request is reviewed and approved by the Deputy Manager Finance Shared Services within DSS before it is raised in ES Financials.
|Printable version (PDF)|
|Purpose||These procedures outline the internal control framework around the raising and approval of credit notes.|
|Topic/ SubTopic||Finance - Purchasing|
|Effective Date||27 Sep 2022|
|Next Review Date||27 Sep 2027|
|Responsible Officer:||Chief Financial Officer|
|Approved By:||Chief Operating Officer|
|Contact Area||Finance and Business Services|
Information generated and received by ANU staff in the course of conducting business on behalf of ANU is a record and should be captured by an authorised recordkeeping system. To learn more about University records and recordkeeping practice at ANU, see ANU recordkeeping and Policy: Records and archives management.