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In this section, Lets learn about credit notes and its usage.
What a credit note is and when it is issued?
How to prepare a credit note using Moiboo Software?
When you return your goods to a nearby store, the shopkeeper sometimes would give you a receipt which you can use to exchange or set-off against future purchases. This receipt is known as a credit note.
For Sales Returns
To provide a Sales Discount which was not known at the time of making the Invoice
To account for shortages in delivery
Credit notes can be adjusted against current outstanding Invoices or might be allowed to be set-off against future Invoices. Sometimes, it might be followed with a cash refund too.
Explain the following scenarios
Adjusting the credit note against an existing Invoice
Adjusting an Invoice against a credit note
Making a refund payment against a credit note
Go to credit note under income tab.
click on add credit note.
Choose the customer to whom you are raising an credit note. Moiboo will automatically populate the customer’s details.
Select date.
Select products details.
Enable the checkbox.
Moiboo automatically open and display all the invoices for that customer. Make sure you adjust each of the invoice which needs to adjusted.
Click save.
Click invoice under income tab.
Click view invoice and scroll down.
Click credit note.
Add credit note.
Now credit note page appears. Moiboo will automatically populate the customer’s details.
Select products details
Go to save.
Choose the customer to whom you are raising an credit note. Moiboo will automatically populate the customer’s details
Enable the checkbox
Go to action button and click add payment.
Now payment page appears. Add payment details.
Know credit note Status will change paid