Entering a Credit Note

Account > Creditors > {double Click the creditor's name} > (Transactions) > [Credit Note]

A credit note is used to reverse or correct an invoice. It reverses all of the operations that the invoice performs. A credit note can only be initiated for an invoice, not a payment.

Occasions when you may need to enter a credit note include reversing a creditor’s invoice, making a prompt payment discount or offering a special price reduction.

To enter a credit note:

Use the path above to access the Creditor Invoice Entry window.
The Creditor Invoice Entry window opens with the selected invoice already loaded and credited, as illustrated above.
If you have entered a payment for this invoice, click the Payments tab to enter a refund. Enter the same payment but the negative equivalent of the original invoice.

Note: Entering a Credit Note with a positive quantity and a negative value may cause your reports to be inaccurate. It is important that the quantity is negative to bring the stock back in. If the quantity is positive, the stock will be removed.
Click Save. The Creditor Transaction Allocation window is displayed listing all transactions.
With the transaction selected, allocated this by clicking the Auto button or clicking the Part Allocate % button and selecting the allocation amount.
Click Save. This displays the Creditor Account Details > Transactions page.
A right-click in the transactions list brings up a shortcut menu. Select Refresh or click the refresh button on the toolbar. This refreshes the transactions list and displays your credit note as a refund.

Tip: You may prefer to enter credit notes on your invoices and leave all payments for a particular day of the month (for example the 20th). All payments can then be made through the Payment Processor, as a Batch Payment. Alternatively, you can enter a credit note by selecting the Generate Credit option from the right-click shortcut menu on the invoice summary line.