I have an invoice and a credit note to a customer, how should I manage this payment? I could made a partial payment as Customer receipt about the invoice but what should I do regarding the credit note?
It is a basic question but I do not know the right thing to do.
this credit note is a document from a seller to a buyer regarding an order that they have made.
They asked to us a credit note to correct a mistake.
I would like to know how should I manage this credit note
From your first post, it sounds like you are acting for the supplier (the company that issued the invoice and credit note) rather than the customer (the company that received the invoice and credit note) - although it's not entirely clear, and your subsequent post is even less clear.
The invoice should be on the sales ledger account for the customer as a debit balance (the original credit being to sales - or sales and VAT as appropriate).
The credit goes on the sales ledger account for the customer as a credit (the debit being to sales, or sales and VAT).
Assuming no other invoices, the balance on the sales ledger account for the customer should be the net of the two - i.e the invoice minus the credit. And that's what the customer will pay.
When you allocate the receipt from the customer (and this is what I think you are asking) you allocate the receipt AND the credit note against the invoice. How you do this might depend on the software you are using.
For example - assuming an invoice of £100 and a credit note of £20 - you might be able to enter the amount received (£80), select the credit note (£20), and the software will show that you have £100 to allocate, and selecting the invoice (£100) completes the transaction.
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Vince M Hudd - Soft Rock Software
(I only came here looking for fellow apiarists...)
