cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Everything you need to know about banking in QuickBooks Online - Discover more
Jules10
Level 1

Credit note

Hi, how do you enter a supplier credit note?  I've put the original invoices on but now have some credit notes due to price changes etc.

 

Thanks!

11 REPLIES 11
Ashleigh1
QuickBooks Team

Credit note

Hello Jules10, 

 

Welcome to the Community page, 

 

To credit note, if you go to the +new>credit note> fill in all the details for the credit not> save and close, then go to the invoice you want to link it to> once in the invoice, if you click on receive payment it will bring up the invoice and the credit note make sure they are both ticked > click save and close. This will link the two together. 

sajidrasheed
Level 1

Credit note

Credit Note:

 

When I choose to create a credit note for PRICE DIFFERENCES:

CUSTOMER.... CREDIT NOTE........ 

 

It subtracts my QUANTITY.

 

In-fact the credit note is issued for DISCOUNT only.

Kindly guide me. Thanks...

sajidrasheed
Level 1

Credit note

How to apply a Credit Note for Discount, without affecting quantity?

 

Please guide. Thanks.

JonpriL
Moderator

Credit note

Hello @sajidrasheed,

 

Creating a credit note needs to be associated with an item. We can create a service item that will serve as the credit note for your given discount. I'll show you how.

  1. Go to Sales.
  2. Select Products and Services.
  3. Click New.
  4. Choose Service.
  5. Enter Discount as the name of your new item.
  6. Click Save and close.

From here, use this item in creating your credit note before associating it with the said invoice. For additional information, here's a short tutorial about credit note: Credit Notes - How To (video).

 

Lastly, I've got you this helpful article for ideas about how you can manage your sales transactions: Sales and Customers for QuickBooks Online.

 

If there's anything else that I can help you with, let me know in the comments. I'll be here to lend a hand.

sajidrasheed
Level 1

Credit note

Thank you for your reply, you are a star sir.

 

However, production item includes quantity (or inventory), matching with SERVICE (Discount)

 

will it or not raise question about ACCOUNTING STANDARDS? (Kindly, brief me about this). How can I satisfy my boss and Audit department? If they inquire me about the transaction.

 

Regards,

EmmaM
QuickBooks Team

Credit note

Hi SajidRasheed, Can we confirm they had paid the different price and already been invoiced and now you have refunded them, or is this a credit for a future invoice? Are you VAT registered? In QuickBooks when you allocate a credit note for a customer you are selecting a product or service if creating a service called discount is not a suitable workaround for you(so as not to impact stock) we would advise speaking to an accountant to see if they are happy with you recording the credit note in this way. -Emma

sajidrasheed
Level 1

Credit note

Well:

We are not registered for VAT.

The customer already paid the amount.

Now, asking for a refund.

 

Regards,

John C
QuickBooks Team

Credit note

Hi sajidrasheed If your customer has already paid you the amount relating to all or part of the invoice and you have marked the invoice as paid/partially paid then you will have to create a refund receipt. This option is located within New+ under customers.

sajidrasheed
Level 1

Credit note

This option is located within New+ under customers.

 

Thank you Sir for your quick reply.

 

However, I couldn't find (NEW +)

ONLY REFUND option in QUICKBOOKS DESKTOP 2021.

 

Kindly, send me a screenshot.

 

Thanks and regards,

Ashleigh1
QuickBooks Team

Credit note

Hello Sajidrasheed, 

 

Thanks for coming back to us on this thread post, 

 

What you need to do to be able to create this credit note you need so to create a new bill first then you will have a radio button, if you click that then you can change it to a credit note. 

ALI RAZA
Level 1

Credit note

Where does the credit note reflect?? In which report does the credit note values reflect??

Could you please help??

 

Need to get in touch?

Contact us