When to issue a credit note
A credit note puts an invoice right. See when one is needed and how it reverses part of the sale.
In this room: 2 tasks, 6 questions
- What a credit note does2 questions
- The figures on a credit note4 questions
A credit note reduces what a customer owes. It is the opposite of an invoice.
- Goods were returned
- Goods arrived damaged or misprinted
- The invoice charged too much
An invoice is never rubbed out or changed. It is corrected with a credit note.
Answer the questions below
1 more question follows in this task.
A credit note carries VAT in the same way as the invoice it corrects.
The misprinted flyers had a net price of £50. VAT is 20%.
Answer the questions below
3 more questions follow in this task.