A credit note, or credit memo, is a document issued to a customer that notifies them that they have been credited a certain amount.

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Credit Notes in Accounting
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2. INTRODUCTION
❖ A credit note, or credit memo, is a document issued to a customer that notifies them
that they have been credited a certain amount.
❖ There are several reasons that can lead to a credit note.
● Mistake in the invoice
● Return of the goods, or a rejection of the services
● The goods delivered are damaged

3. ❖ You can find option in Invoicing > Customers > Credit Notes.

4. ❖ You can click on Create button, form view appears, it will be a Reverse Invoice so the
reference number will be starting with RINV. Here you can enter the details of credit note
which needed to be created. Confirm it and Click on Register Payment.

5. ❖ Select the mode of payment and click on create payment.

6. ❖ Now you will be able to see a reverse invoice journal entry created created in the Invoice >
Accounting > Journal Entries.

7. ❖ Next method is to create credit note from Invoice, go to the invoice which you need to create
the credit note, click on the Add Credit Note button.

8. ❖ Now a popup will appear you can click on any of the the 3 types of refund Credit Method, at
first let’s discuss about the Partial Refund.

9. ❖ Now the credit note page will appear it will be in Draft state, you will be able edit the amount
and proceed the Credit Note.

10. ❖ Now a popup will appear you can click on any of the the 3 types of refund Credit Method, at
first let’s discuss about the Full Refund.

11. ❖ Now the credit note page will appear but it will not be in Draft state, you will be able edit the
amount in Credit Note it will be in posted state.

12. ❖ Now a popup will appear you can click on any of the the 3 types of refund Credit Method, at
first let’s discuss about the Full Refund and New Draft Invoice.

13. ❖ Now the credit note page will appear it will be in Draft state, you will be able edit the it and
make modifications and after finishing proceed with posting the Credit Note.

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