5 Credit Notes

In general, a Credit Note can be interpreted as a receipt or an invoice given by a shop to a customer who has returned goods.

This can then be offset against future purchases. It is essentially an instruction to debit the supplier and credit the buyer. Credit notes may be raised under the following circumstances:

• The supplier fails to deliver goods of the same value as the buyer’s payment, assuming that the buyer has made an advance payment.
• The rate charged on an earlier invoice is higher than the actual rate.
• The buyer pays prior to the due date leading the supplier to provide a discount by way of a credit note.
• Items (commodities) raised in the invoice are returned by the buyer.

Note:

The Credit Notes Transactions are only supported on Desktops/Laptops and on Landscape mode of Tablet devices.

Credit note records can be created using one of the following:

• Online Credit Note Creation (manual entry)
• Create Credit Notes using Templates
• Bulk Credit Note Creation

• Create Online Credit Note
  This topic provides systematic instructions to create a single or multiple credit notes online.
• View Credit Note
  This topic provides systematic instructions to the corporate users to view the credit notes, with respect to the corporate’s role as buyer or supplier.