Credit notes: issue, apply to invoice or refund
Issuing a Credit Note to your customer
Watch this video on how to issue a credit note or read on below
You can issue a credit note to a customer if you owe them money ( click here for when to issue a credit note). After you issue a credit note, you can either apply it to an existing invoice or issue a refund to a customer.
To issue a credit note, go to the Invoicing section on the left side menu, then select credit note out of the options on the top, and finally click on the '+ button.
- WeKeep automatically generates a Credit Note Number in a sequence.
- Choose the Currency in which you'd like to issue the credit note.
- (Optional) Indicate the Purchase Order details of your customer's request.
- Choose the Contact corresponding to the customer you'd like to credit or create the contact directly in the form.
- (Optional) Assign the credit note to its specific Project. This allows you to track the profitability of your various projects.
- Indicate the Place of Supply.
- Set the Date on which the credit note is created.
- In the Credit Note Line Item:
- (Optional) Choose the Item for which you are issuing the credit note.
- Write a short Description indicating the details of the line item.
- Choose the account where you'd want the credit note to be booked. For example, for a returned item, you will typically want to choose an Income type account.
- Indicate the Quantity of the line item and the Price
- (Optional) Add a Tax Rate if applicable
- Click Save and Send to send the Credit Note to your customer, or just Save to save it as draft.
Applying a credit note to an existing invoice
If a customer has an outstanding invoice and credit notes, you will be able to pay off the invoice with the credit notes.
To pay off an invoice with a credit note:
- Go to the invoice. A button labeled "Apply to credit note" will show up in the Payments section. The button only shows up if the customer has outstanding credit notes.
- Click Apply credit note. You will then see a list of all unpaid credit notes for the customer.
- Enter the amount you wish to allocate from each outstanding credit note to the invoice, then click Save.
Issuing a refund for a credit note
To issue a refund for a credit note:
- Go to the credit note.
- Click Record refund.
- Enter the date of the refund
- Enter the amount you've refunded
- Enter the account you've paid the refund from
- Click Save