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Procedure: Credit Note

Purpose

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.

Procedure

  1. Credit notes are raised by the Division of Shared Services (DSS).
  2. Business areas complete a Request for Credit Note form with:
  1. supporting documentation (such as an email from the customer); and
  2. sign-off by the relevant Finance Manager in a College or Portfolio.
  1. The credit note request is reviewed and approved by the Deputy Manager Finance Shared Services within DSS before it is raised in ES Financials.

Information

Printable version (PDF)
Title Credit note
Document Type Procedure
Document Number ANUP_000695
Version
Purpose These procedures outline the internal control framework around the raising and approval of credit notes.
Audience Staff
Category Administrative
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
Authority:
Delegations 0

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.

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Debt management (receivables)
Receipting
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