Enter Credit Notes

A credit note reduces the current balance outstanding, the turnover for the period, and the turnover for the year for an account, and reduces the overall ledger control total.

Entering a credit note essentially follows the same procedure as described in detail above for an invoice, with one extra option at the start, and with the option to allocate transactions being offered at the end.

Reverse Existing Transaction

Once you have chosen an account you are asked: to pick up details from an existing reference

Often a credit note is raised because an invoice was entered incorrectly. The purpose of this question is to allow the computer to find an invoice already on file for this account, and to pick up all its details (so far as it can) for display, to save you entry time. Keying <Enter> on a blank reference field means that you do not wish to choose an existing invoice to reverse, and you proceed into the transaction process as described above for invoices.

When you enter a reference number to look for, you can omit leading zeroes — for example, if you ask for reference "5124”, it will match to an invoice with reference "0005124”. If the reference number has alphabetic characters, you can enter them in lower case or capital letters.

Credit Note Entry

The procedure for entering and posting a credit note is exactly the same as for posting an invoice (see above) including scanning the document (if configured), with the addition that — for open-item accounts — you can allocate the credit note against invoices after completing the document. The allocation procedure is the same as that described above.