money_off Credit notes & refunds

Corrections that reverse properly

Credit a whole invoice or a single line, put the balance on account, or refund it to the bank. Revenue, tax and stock all reverse the way an auditor expects.

Auto

Allocation

Reversed

Revenue, tax & stock

Refund

Or keep on account

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Overview What you get FAQ Related

money_off Overview

Why corrections go wrong elsewhere

Deleting or editing a posted invoice hides the mistake instead of correcting it.

check_circleInvoices edited after the fact, so last month's reported figures change
check_circleTax on a credit that never reverses in the return
check_circleReturned stock that never comes back into inventory
check_circleCustomer credit balances nobody can find or apply

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undo

A real reversal, not an edit

Approving a credit note posts the opposite journal, including tax and cost of goods sold, so history stays intact.

check_circleFull or partial credit
check_circleTax reversed at the original rate
check_circleStock returned to inventory
check_circleOriginal document stays untouched

account_balance_wallet

Credit on account, or cash back

Leave the balance as available credit for the next invoice, or refund it from a bank account.

check_circleAuto-apply to the linked invoice
check_circleUnlinked credit waits in the credit pool
check_circleManual allocation across invoices
check_circleRefund to bank, card or cash

swap_vert

Both directions

Supplier credit notes work the same way and net correctly against what you owe.

check_circleCustomer and supplier credit notes
check_circleNetted in aged receivables and payables
check_circleShown on statements
check_circleFull audit trail

help_outline FAQ

Questions, answered

Can I credit only part of an invoice?

Yes. Credit selected lines or a partial quantity or amount.

What happens to the tax?

It reverses at the rate on the original document, so the tax return stays correct.

Does returned stock come back?

Yes, at the original cost, so inventory valuation and COGS stay right.

Can a credit sit unallocated?

Yes. It stays in the customer's credit pool until you allocate it or refund it.