Debit Note&Credit Note
Debit Note
A debit note is a document used by a vendor to inform the buyer of current debt obligations, or a document created by a buyer when returning goods received on credit. The debit note can provide information regarding an upcoming invoice, or may serve as a reminder for funds currently due.
To access debit note screen you will need to:
Navigate to the main menu.
Click on the Accounting
Click on the Debit note.
Image of the Debit note screen
Vendor : Select the vendor to whom you are going to create a debit note
Amount : Field to enter the debit amount
Desc : Additional information
Allocate to Invoice : You can choose the vendor open invoice from the drop down that you wish to allocate with debit note if any.
Document No : Enter the document number if applicable
Charge : To track the entry. Also, its account posting will be to the selected charge account.
Date Accounting : Can be entered with back date too.
Currency : Can choose the currency from the dropdown menu if the vendor is configured with foriegn currency.
Prerequesites
Vendor - Vendor can be created from administration-> Vendor screen.
Credit Note
A form or letter sent by a seller to a buyer, stating that a certain amount has been credited to the buyer's account.
A credit note is issued in various situations to correct a mistake, such as when (1) an invoice amount is overstated, (2) correct discount rate is not applied, (3) goods spoil within guarantee period, or (4) they do not meet the buyer's specifications and are returned.
To access credit note screen you will need to:
Navigate to the main menu.
Click on the Accounting.
Click on the credit note.
Image of the credit note screen
Customer : Select the Customer to whom you are going to create a credit note
Amount : Field to enter the credit amount
Desc : Additional information
Allocate to Invoice : You can choose the customer open invoice from the drop down that you wish to allocate with credit note if any.
Document No : Enter the document number if applicable
Charge : To track the entry. Also, its account posting will be to the selected charge account.
Date Accounting : Can be entered with back date too.
Currency : Can choose the currency from the dropdown menu if the customer is configured with foriegn currency.
Prerequisites
Customer: The customer can be created from administration ->Customer screen
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