3420 views Overview
A Credit Note is used to record a sales return, post-sale discount, service deficiency, invoice correction, or other adjustments against an existing sales invoice. The Sales Return module allows you to create and manage credit notes while maintaining accurate customer balances and GST records.
Benefits
- Adjust Customer Balances for returned goods or billing corrections.
- Maintain Accurate Accounting Records by linking credit notes to original invoices.
- Support Multiple Adjustment Reasons such as sales returns, discounts, and invoice corrections.
- Ensure GST Compliance by recording taxable value adjustments correctly.
- Track Credit Transactions against specific customers and invoices.
Create a Credit Note
Steps
- Navigate to Sales → Sales Return.
- Click Create Sales Return.
- Select the Customer.
- Enter the Credit Note Date.
- Choose the appropriate Reason from the dropdown:
- Sales Return
- Post Sale Discount
- Deficiency in Service
- Correction in Invoice
- Change in POS
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Select the Invoice
Steps
- Select the original Invoice Number against which the credit note is being created.
- Verify the invoice details populated in the entry.
Add Product and Taxable Amount
Steps
- Select the product in the Goods/Service field.
- Enter the required Quantity (QTY), if applicable.
- Enter the Taxable Amount.
- Verify GST and total value calculations.
- Click Save or Save & Next.
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Important Notes
- A credit note should be created against the relevant sales invoice.
- Select the correct reason to maintain proper accounting and GST records.
- Quantity can be left blank when only a taxable value adjustment is required.
- Taxable Amount is mandatory for creating the credit note.
- GST values are calculated based on the taxable amount entered.
Result
- A credit note is created and linked to the selected sales invoice.
- Customer outstanding balances are adjusted accordingly.
- GST and accounting records are updated based on the credit note transaction.
Need Assistance?
If you need help creating or managing credit notes, please contact the support team.
