What are the default accounting treatments based on the credit note reasons in RevRec?
What are the advanced accounting treatments based on the credit note reasons in RevRec?
What is the difference between default and advanced accounting treatment on the credit note reasons in RevRec?
Chargebee comes with a set of credit note reason codes that allow you to leverage and apply credit notes for different business scenarios. RevRec applies a set of default recognition methods for credit notes based on the reason code and further provides you the ability to adjust the treatment for certain reason codes through advanced configuration.
RevRec provides the following default accounting treatments and advanced configuration treatments based on the credit note reasons in Chargebee.
Note: RevRec provides advanced configuration so that a different recognition treatment can be applied to certain credit note reason codes. Please contact your RevRec support team to enable the configurations.
Chargebee allows customers to create additional custom credit note reasons. RevRec's default method for these custom reason codes is to recognize the full credit note amount in the period of credit note creation.
Refer to this link for more information.