Customers' Credit Journal

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Credit Note to customer have 2 nature; first is returned goods and second, dollar  value discount. The effect is to reduce what the customer owes to your company.
Dollar value discount could be bad debts adjustments, sales discount or rebate.


: How to issue a customer credit note  ( Rebate, credit note or adjustments)                   See Customer Debit Journal


Exercise:  Assuming you need to give dollar rebates to a customer for sales target achieved.


At [A/c Entry], click [Customers' Credit Journal]



Click [Add]





Follow the steps from [1] to [7]





At Receipt, you need to offset this credit note against the customer's invoice as indicated by the customer's payment advice.
Customer pay a net amount of $1,605 for invoice 0000152 less credit note CCN0000036 ($2140 - $535)






To issue a Credit Note to Customer Due to Over-charging or Discounts


Exercise: Assuming Inv 4001 goods delivered was over-charged by S$10.00 per piece.




Do you know that you can enter the cutomer's credit note amount inclusive of GST...Read more...

For illustration purpose, your company is GST registered,  you give a credit note of $161 inclusive of GST at the prevailing rate to your customer.

Enter the amount inclusive of tax and the system will re-gross back to before tax amount

       As at 10/06/2021        



Print Credit Note ...Click here


Related Topics

Receipt with Invoice against Credit Note


Tax - [S] Output Tax


FAQ : How to Contra full invoice with Credit Note ?


Suppliers' Credit Journal


Customer contra against Supplier

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