Create New Credit Notes

This page will guide you to create or post a Credit Note entry.

Note: For more information about Debit and Credit Notes, read here.

Step 1

Go to: Main Menu  >  Accounting  >  Receivable  >  Customer invoice  >  New Credit Note

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Step 2

Fill in the relevant information.

“General” Tab

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Brief explanation:

  1. Contact: Pick the existing contact, this should be an existing supplier or customer.
  2. Billing address (Optional): Address will be automatically loaded if it has been added to the database already. To add to the database, read here.
  3. Number: This sequence (invoice) number can be automated. To set up the sequence, click here.
  4. Ref (Optional): Fill in any relevant references here. Example includes Invoice Number.
  5. Related to (Optional): Pick the most relevant reference/document number.
  6. Currency (Optional): Pick the existing currency.
  7. Tax Type (Optional): Pick how your tax calculation is reflected in your invoice.
  8. Tax No. and Tax Branch No. (Optional): Kindly refer your accountant for the information.

 

Product Description

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Brief explanation:

  1. Product: Pick an existing product.  
  2. Description: Description is mandatory for a credit note data entry.
  3. Quantity: Key in the correct figure.
  4. Unit of Measure (UoM): Pick the existing unit of measure.
  5. Unit Price: Price per unit of item.
  6. Account: Kindly refer to your accountant for correct information.
  7. Tax Rate (Optional): Tax rate to apply for the invoice item.
  8. Amount: This will be auto-loaded. Please make sure the amount is correct.

After filling in the relevant information, select “Save” or “Approve”.

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2 thoughts on “Create New Credit Notes”

    • Correct Answer: a) True

      Explanation: Any party can issue a credit note to credit another party related to an invoice.

      Reply

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