Invoice and credit a funded booking

Introduction

A booking with a funder, such as an insurer or a broker, is invoiced to two parties at once. When you invoice it, the app splits the booking: the funder or broker gets an invoice for what its funding covers, the renter gets an invoice for the rest. This page shows where to see that split before you invoice, where both kinds of invoice end up, how to credit them, and how to put the split right after the booking changed.

Two screens are involved. The Invoice summary, which you open with Invoice on the booking, shows an Invoice split section for a funded booking: Billed to the funder or broker beside Billed to the renter. Below it, when the invoices no longer match the funding, sits an Invoice split correction box. The booking's Invoices tab lists Invoices to the renter, then Funder and broker invoices, each row with icons to open, e-mail and credit it.

You would be here because:

• a funded booking came back and needs invoicing
• an insurer asks for a copy of its invoice
• the booking was invoiced by mistake and everything must be taken back
• the price changed after invoicing and the funder was invoiced too much

Terms used on this screen

Use this page whenever a booking with a funder is invoiced or credited.

How to use

Configuration

The funder and broker invoices go out by e-mail with their own templates. A company administrator sets them up once: from the main menu open Admin, then Communicator, click the Invoice tile, and add a template for each Automation type you need:

How to fill in a template is on Send an invoice to a customer. Without a template of the right type the invoice and its PDF are still made, but not e-mailed.

Before you start: the funding must be set up on the booking first (Let a third party pay part of a booking). Crediting and correcting the split are for company administrators.

Using the funded invoices

1. Open the Invoice summary. On the classic booking screen click Invoice at the top of the booking. On the Booking details screen, click Invoice on the Financial tab (Find your way around the Booking details screen).
2. Check the Invoice split. Billed to the funder or broker and Billed to the renter list the lines each party gets in the next invoice run, excluding VAT. The Full booking split tab shows the whole booking divided over the parties, whatever was invoiced already.
3. Invoice as usual with Create and send invoice or Create invoice; see Invoice a booking. The run makes the funder or broker invoice and the renter invoice together, and e-mails each one to its own party when you send.
4. Find the invoices. Open the booking's Invoices tab (on the Booking details screen: Financial → Invoices). Click Refresh if a new invoice is not shown yet. Each grid shows Number, Invoiced to, Type, Date, Due date, Total incl. VAT, Payment status and Open.
5. Open or e-mail one with the icons at the end of its row: the first opens the PDF (it is made if it is missing), the envelope e-mails it again. For a funder or broker invoice the app asks E-mail this invoice to the funder or broker again?; click Send.
6. Credit one invoice with the third icon. The pop-up Credit invoice says which invoice it credits in full and who gets the credit note. Click Credit and e-mail or Credit without e-mail. Cancel credits nothing.
7. Credit everything with Credit all invoices above Invoices to the renter. The pop-up lists every open invoice with its number, party and amount. Click Credit and e-mail or Credit without e-mail. Each credit note goes to the party that got the invoice, and the booking can be invoiced again.

When it worked, each credited invoice shows Credited under Payment status and its credit note appears in the same grid.

Key details

A worked example. A 14-day booking of €700 base rent excluding VAT, where the insurer's funding covers €450, plus a €60 child seat the insurer does not cover. The run makes:

After the booking changes. When a booking is changed after it was invoiced, the next invoice run settles the difference itself. When nothing is left to invoice, the Invoice split correction box on the Invoice summary lists an Extra invoice or a Credit note per party; click Correct invoice split. The same happens with Rebalance invoices on the booking's Funding tab, after Credit and re-invoice the difference between what was invoiced and what the funding now says?. The existing invoices stay as they are, and the message says Invoice split corrected for n funding(s).

A price cut after invoicing goes back to the funder. If the price drops and the funder now pays less than it was invoiced, the next invoice run credits the funder its share. The Invoice split shows this as a negative line under Billed to the funder or broker before you run it.

Brokers pay in advance. A broker's prepayment is recorded at confirmation as a payment with payment method Broker. It pays the broker invoice, never the renter's.

Payments stay with their party. A payment only settles invoices of its own customer, so the renter's money never pays the funder invoice, and the other way round.

No direct debit. Funder and broker invoices are never collected by direct debit, even when the funder has a mandate.

Invoice period is not offered. Invoice period... is hidden on a funded booking; it is invoiced whole.

What to do next: follow up payment of the funder invoice on the invoice list, like any other invoice: See which invoices are paid and open.

Q&A

Why did Credit all invoices refuse to start? The pop-up says This booking already has a credit note for part of an invoice. Crediting everything would credit that part twice. Credit the invoices one by one with the credit icon.

Why were some invoices not credited by Credit all invoices? The message says how many could not be credited: an invoice that covers several bookings, or whose lines do not add up to its total. Credit those one by one; the others are credited.

Why did the insurer not get its invoice by e-mail? There is no Funder invoice template (or Broker invoice for a broker); the envelope icon then says No e-mail template is set up for funder or broker invoices, so nothing was sent. Add one under Admin → Communicator → Invoice, then use the envelope icon on the invoice's row.

Why does the renter's invoice not show the funder's share? Renter documents list only the renter's share, with the funder named as the party that pays the rest. The funder invoice is a separate document the renter never sees.

Why is Credit all invoices missing? It appears only on a funded booking with at least one debit invoice that is not credited yet. Credit a booking without a funder from its invoices as usual: Take back an invoice with a credit note.

Why can't I invoice a period on this booking? Invoice period... is not offered for a funded booking. Invoice the whole booking.

Where is the old booking split or broker dashboard? They were removed. The split is on the Invoice summary and the Full booking split tab; a broker's invoices are on its own page, on the Broker invoices tab (Work with brokers and rate codes).

Related pages:

• Let a third party pay part of a booking, to add or change the funding.
• Match payments to invoices, when a funder's payment does not reach its invoice.
• Cancel a booking, for who pays when a funded booking is cancelled.