Another adjustment form in QNE, the Credit Note, is used to record client returns, reflect discounts that have been given, or simply to alter prices in order to lower the total amount still owed by the customer.
In this form, it will typically just be the same except that the adjustments are required to be Knocked-Off or off-set directly to which Invoice or Debit Note it shall deduct from.
From the Navigation Pane, click Account Receivable then choose Credit Notes. Click the Add button in the upper right to create your new CN transaction.
In the Customer Credit Note form, select your Customer and so the system will display all the default information.
Set the Transaction Date, input the Reference Number, Description, and Reason or skip if not necessary. Tick whether the transaction is Tax Inclusive or Exclusive.
Then in the Details tab, search for the GL Account, and input the other details such as Amount, Ref No., and the Tax Code if applicable.
Next, proceed to the Knockoff tab to match it to the Invoice and directly deduct it to your receivables, this shall automatically reflect the remaining outstanding amount as shown.
Finally, click SAVE.
Review the corresponding transaction posted journal entries..
..or click “Preview” to generate a printable format.
