2020-03-20 13:09:11updatesEnglishA Credit Notes is sent by the seller to the buyer if, the seller has charged more than what was actually required. - Quickbooks.https://quickbooks.intuit.com/in/resources/in_qrc/uploads/2019/07/Businesswoman-trying-to-understand-what-is-credit-note-in-GST.jpghttps://quickbooks.intuit.com/in/resources/updates/create-credit-note-in-quickbooks/Create your Credit Notes easily, and quickly all by yourself

Create your Credit Notes easily, and quickly all by yourself

0 min read

What is a Credit Note?

Imagine if you buy something from someone, you need to pay for that person. If that person is taking more money from you than what is needed, you need to get that extra bit of payment back. Credit Note is the financial document that will be issued to the payee (you) to inform the amount that has been overcharged and why.

When do we send a Credit Note?

A Credit Note is sent by the seller to the buyer if, the seller has charged more than what was actually required. This extra charge can be because of the tax amount, some of the stuff being returned, or all of the stuff being returned due to some reason.

Now, create your Credit Notes quickly with QuickBooks. QuickBooks helps in creating Credit notes swiftly adhering to all accounting norms:

  1. Click “New” button from left side navigation frame
  2. Select “Credit Note” under “Customers”

credit note

 

  1. Credit Note window appears. Select ‘Customers’ from the drop-down; select ‘Place of Supply’, add ‘Product / Service’ details, date, quantity, tax and amounts (inclusive/exclusive of tax), etc.
  2. Add a line, attachments as needed. You’re done!

 

credit note in quickbooks

 

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

Related Articles

Create Your Chart of Accounts with QuickBooks

The Chart of Accounts is a list representing all the accounts and…

Read more

Keyboard Shortcut for QuickBooks

Do you know QuickBooks, world’s no. 1 financial management software with 5.6…

Read more