What are credit notes and what happens after I receive one?

What are credit notes?

A credit note is a document that is issued to notify you that a credit will be refunded and/or applied to your account for a number of reasons.

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Common reasons credit notes are issued at Oyster:

  • Refund of team member deposits after offboarding
  • When you overpay an existing invoice
  • When the amount due on the settlement invoice is negative (e.g. when the total costs for the month is lower than the pre-funding estimate).
    If you're wondering what a settlement invoice is, it's a part of the new invoicing process that is rolling out from Feb 2023 onwards. Check out this article for FAQs around the new invoicing process.

What can you do with credit notes? There are two options:

  1. You can ask us to apply the credit note amount to an existing or future unpaid invoice. That means we will reduce the amount to be paid (the "amount due") by the quantity stated in the credit note.
  2. You can receive a refund in cash equal to the amount stated in the credit note.

How to allow Oyster to apply credit notes to invoices

You must reach out to Oyster Support and request one of the two options:

  1. Apply credit notes by default to any existing or future invoice
  2. Apply a specific credit note to a particular invoice only

 

How to find credit notes in the Oyster platform

  1. In the navigation menu, click on Pay and select Invoices


  2. Click on See Credit Notes
  3. You will access the list of credit notes. 


  4. For each credit note, you can see their "Total amount" (the initial amount ) and also the "Amount remaining", that is, the amount after refunding or applying this credit note. 

  5. Status information is:

 

How to see the invoices where a credit note has been applied

One way is to view them on the credit notes page. Click on the Credit note reference, and you will find on the side panel all the invoices where this credit note was applied:

 

Another way is to view them on the invoice page. You can open a particular invoice to see if a credit note has been applied or some payments have been made to them:

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