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Jules10
April 1, 2020
Question

Credit note

  • April 1, 2020
  • 2 replies
  • 0 views

Hi, how do you enter a supplier credit note?  I've put the original invoices on but now have some credit notes due to price changes etc.

 

Thanks!

2 replies

A
Ashleigh1
April 1, 2020

Hello Jules10, 

 

Welcome to the Community page, 

 

To credit note, if you go to the +new>credit note> fill in all the details for the credit not> save and close, then go to the invoice you want to link it to> once in the invoice, if you click on receive payment it will bring up the invoice and the credit note make sure they are both ticked > click save and close. This will link the two together. 

S
sajidrasheed
August 15, 2020

Credit Note:

 

When I choose to create a credit note for PRICE DIFFERENCES:

CUSTOMER.... CREDIT NOTE........ 

 

It subtracts my QUANTITY.

 

In-fact the credit note is issued for DISCOUNT only.

Kindly guide me. Thanks...

S
sajidrasheed
August 15, 2020

How to apply a Credit Note for Discount, without affecting quantity?

 

Please guide. Thanks.

J
JonpriL
August 15, 2020

Hello @sajidrasheed,

 

Creating a credit note needs to be associated with an item. We can create a service item that will serve as the credit note for your given discount. I'll show you how.

  1. Go to Sales.
  2. Select Products and Services.
  3. Click New.
  4. Choose Service.
  5. Enter Discount as the name of your new item.
  6. Click Save and close.

From here, use this item in creating your credit note before associating it with the said invoice. For additional information, here's a short tutorial about credit note: Credit Notes - How To (video).

 

Lastly, I've got you this helpful article for ideas about how you can manage your sales transactions: Sales and Customers for QuickBooks Online.

 

If there's anything else that I can help you with, let me know in the comments. I'll be here to lend a hand.

    S
    sajidrasheed
    August 27, 2020

    Thank you for your reply, you are a star sir.

     

    However, production item includes quantity (or inventory), matching with SERVICE (Discount)

     

    will it or not raise question about ACCOUNTING STANDARDS? (Kindly, brief me about this). How can I satisfy my boss and Audit department? If they inquire me about the transaction.

     

    Regards,

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