A form or letter sent by a seller to a buyer, stating that a certain amount has been credited to the buyer’s account. A credit note is issued in various situations to correct a mistake, such as when
(1) an invoice amount is overstated,
(2) correct discount rate is not applied,
(3) goods spoil within the guarantee period, or
(4) they do not meet the buyer’s specifications and are returned.
To access the credit note screen you will need to: Navigate to the main menu. Click on the Accounting. Click on the credit note. Image of the credit note screen
- Customer: Select the Customer to whom you are going to create a credit note.
- Amount: Field to enter the credit amount.
- Desc: Additional information
- Allocate to Invoice: You can choose the customer open invoice from the drop-down that you wish to allocate with a credit note if any.
- Document No: Enter the document number if applicable
- Charge: To track the entry. Also, its account posting will be to the selected charge account.
- Date Accounting: This can be entered with backdating too.
- Currency: Can choose the currency from the dropdown menu if the customer is configured with foreign currency.
- PrerequisitesCustomer: The customer can be created from administration ->Customer screen
