Credit Note
A Credit Note Voucher is a document issued by a seller to a buyer, indicating a reduction in the amount owed for goods or services previously provided. It serves as a formal acknowledgment of a credit given to the buyer's account, typically due to returns, overbilling, or other adjustment.
To access the Credit Note, go to: > Home > Application > Finance > Operations > Credit Note
How can I get Benefit ?
ValueBot offers a useful features for accounts through Credit Note Voucher
- Refund or Adjustment : If you’ve returned goods or overpaid for a service, the credit note allows you to get a refund or adjust the amount in future transactions with the seller.
- Accounting Purposes : It helps maintain accurate records for both the buyer and seller, ensuring that financial statements are updated correctly with any changes in the amounts due or paid.
- Future Purchases : Often, the credit note can be applied to future purchases, providing you with a discount or credit on upcoming transactions.
- Dispute Resolution : If there was an issue with an order (like damaged goods or incorrect billing), a credit note can be a formal way to resolve the situation without needing a full refund.
Properties
Primary Properties
| Property | Description |
|---|---|
| Voucher No | Voucher Entry Number will generate default |
| Date | Date refers the Transaction date |
| Reference No | Can Enter other references number related to Voucher |
| To Credit | You Can Select Account Ledger from list |
| Amount | Enter Amount you want to Receive |
| Narration | Can Enter information related to Voucher |
Line wise Properties
| Property | Description |
|---|---|
| Type | If we select 'To-Credit,' the amount will be posted to the credited account |
| Type | If we select 'To-Debit,' the amount will be posted to the debited account |
| Ledger | You Can Select Account ledger from list |
| Amount | Enter the amount you need to post to the ledger |
Create New Credit Note Voucher
- Go to the Credit Note
- You can observe
Voucher Numberis generated by default. - Under the To Credit, Select Account Ledger from list
- Enter the Amount.
- Click
Add New, select account ledger and enter the amount.
- Enter any additional information in the Narration field for your reference.
- Click
Save
Edit a Credit Note Voucher
- Go to the Ledger Summary
- Select Account Ledger and Choose the transaction
- Make Necessary changes
- Click
Save
Delete a Credit Note Voucher
- Go to the Ledger Summary
- Select Account Ledger and Choose the transaction
- Click
Delete
warning
Deleting a Credit Note from the ledger will cause a variation in the closing balance.