Credit and Rebill (Invoice-based)

Once Invoices are finalized, they are immutable. Why?

  • Changing an Invoice creates opportunities for fraud
  • If the Invoice was already sent to your customer, it could be seen as deceptive to make changes

So, how do Accounting / Finance teams fix errors on Invoices after the Invoice has been finalized? Credit and Rebill

How does Credit and Rebill work

Credit and Rebill is a Billing operation executed by Accounting / Finance teams to fix errors on an Invoice.

In a single Credit and Rebill operation, Accounting / Finance:

  • Creates a Credit Note equal to the value of the old Invoice (including tax).
  • Edits information on the old Invoice that will be used on the new Invoice. Creates a new Invoice.

How to Credit and Rebill in MonetizeNow

When performing a Credit and Rebill, you will be asked what information you'd like to change. The most common information changed is:

  • Addresses, as this impacts sales tax
  • PO numbers, as this impacts some large customers willingness to accept and pay the Invoice

Upon Credit and Rebill:

  • A Credit Note is created for the amount of the Invoice (including tax if applicable) being Credit and Rebilled.
    • This is without regard to any other Credit Notes that have been generated from this Invoice for other reasons (namely: Downsell Amendments and Manual Credit Note (from Invoice)) and without regard for any Payments, Credits, or Credits Notes applied to the Invoice in question.
  • A new Invoice is created with the same line items and amounts as the old Invoice*. If your Tenant has a connected Tax Provider, tax is re-calculated. The new Invoice has a new Sequential Invoice number.

*For usage products, amounts are also re-calculated using the most recently available metering data sent to MonetizeNow's usage system. Credit and Rebill is not yet available for Tenants with usage products.

Restrictions on Credit and Rebill

Credit and Rebill may be performed regardless of the Paid / Unpaid status of the Invoice. Just because your customer sent a payment or you applied a Credit or Credit Note to the Invoice, it does not mean that the sales tax calculation or PO Number was correct!

No limit exists on the number of times a given source Invoice may be Credit and Rebilled. However, each individual Invoice can only be Credit and Rebilled once. The resulting Invoice from the Credit and Rebill may then be Credit and Rebilled.

Note that Invoice Items may not be altered via Credit and Rebill as these are generated per the Contract you and your customer agreed upon. To charge incrementally, consider One-time Invoices. To reduce the charges, consider Credits or Credit Notes.

Sample use cases

  • Re-calculate taxation
  • Update address / contact information
  • Update payment information