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taken from the Accounting Made Easy e-book








DOCUMENT PROCESSING
CREATE OR EDIT CREDIT NOTES
  
Credit notes are created to refund debtors (customers) if they return stock items or goods, or to correct incorrect Invoices, which have been posted. They are entered in exactly the same way as Invoices but the transactions are exactly the opposite as for Invoices. Credit notes should only be used if you are trading in stock items and or invoicing service items (labour, consulting fees, etc.) from your stock item code file.

Credit Notes do not have to be issued if an Invoice for which a Credit Note needs to be issued, is not updated or posted to the Ledger. You may edit the original Invoice before updating or posting the Invoice to the Ledger, in which case you need not to create a Credit Note.

In some cases, where the Invoice for which a credit note has to be issued, is already sent to the debtor (customer), and if it is not yet updated or posted to the Ledger, you may still need to issue a credit note for that debtor (customer). You have to decide according to your circumstances when to issue a credit note.

To Create or Edit a Credit Note:
Press the <Spacebar> on your keyboard. You may also click on the speed button or icon. You may also click on the down arrow of the Invoice speed button to select Credit Note from the Sales Documents list or press the and keys on your keyboard. The Document Entry screen will be displayed. Select Credit Note in the Documents field, if Credit Note is not displayed.

Title bar. Click to close or exit this screen. Select Credit Notes, if Credit Notes is not displayed. Select the debtor account. Select New to create a New credit note or select an available credit note number to edit the credit note. Enter a valid date or select a date using the date picker. Enter the Reference number, if available for the debtor. Once a document has been created, click to view the Document Entry details screen. The salesperson for the selected salesperson will be displayed. Select any other available salesperson. Select any available document group, if groups was created. The postal address as entered on the General Information tab for the selected debtor account will be displayed. The delivery address as entered on the Statements tab for the selected debtor account will be displayed. You may enter or overtype the address. The message as entered on the Documents Setup (Credit Notes) will be displayed. If you press the enter key, in the last line, the Document Entry Details screen will be displayed. The current account balance for the debtor account will be displayed. The amount available on the credit facility for the selected debtor account will be displayed. The credit limit as entered on the Accounting Information tab for the selected debtor account will be displayed. Select any available paper type on which you wish to print the document. Select screen, printer, file, e-mail or fax. Copies may only selected if the printer option is selected. Click to select another printer as your default printer and to set the paper for dot-matrix printers. Click to print the document to the selected output method. Click to close or exit this screen. The message as entered on the Documents Setup screen. If you press the enter key, in the last line, the Document Entry Details screen will be displayed. Note the selected selling prices (1/2 or 3) for the selected debtor account. Note the Customer Discount for the selected debtor account as entered on the Debtor Account - Accounting Information tab.
Select and enter the applicable information for the applicable fields:

Option Description
1. Debtor Select the Debtor for whom you wish to issue a Credit note or to edit an existing Credit note.
2. Credit Note No. Always select NEW to create a new Credit note and TurboCASH will generate the next Credit note number.

If you wish to edit an existing Credit Note or a Credit Note, which have not yet been updated or posted to the Ledger, you may select the Credit Note Number which will be displayed for that Debtor.
3. Date The current date in your system should be displayed. You may enter any other valid date or select a date using the date picker.
4. Your Reference: Enter the reference number as supplied by your Debtor, if available.
5. Salesperson The salesperson allocated on the Edit - Accounts - Debtor (General Information tab) will be displayed. If no Salesperson has been allocated to the specific Debtor, unallocated should be displayed.

If a different salesperson were selected on the invoice for which the credit note is created, the same salesperson should be selected.
6. Document Group 1 /
Document Group 2		 You may select any of the available Document Reporting Groups, which you have created in the Setup - System Parameters - Groups menu option.
7. Postal Address The address as entered on the Edit - Accounts - Debtor (General Information tab) will for the specific Debtor will be displayed.
8. Delivery Address The address as entered on the Edit - Accounts - Debtor (Statement tab) for the specific Debtor will be displayed.

You may also enter or overtype the address in this field if the delivery address is different.
9. Available Balance The available balance on the credit facilities will increase with this Credit note.

TurboCASH will automatically calculate the difference between the credit limit and the current balance of your Debtors account.
10. Message The message you have entered in the Setup - System Parameters - Documents (Credit Notes tab) menu option will be displayed. You may enter or overtype this message with another message for this specific order.

Once you are finished with the message, the Document Entry Details screen for Credit note and the Stock Items search facility screen will be displayed.

Title bar displays the debtor account, document type and number and quantities on hand. Click to close or exit this screen. The selected document type - Credit Note will be displayed. The selected debtor account. The generated or selected credit note number will be displayed. The date as entered or selected, or the date when a quote was converted or a repeating invoice was generated. The Reference number for the debtor, if entered. Click to go back to the previous screen (Document Entry (Header) screen. Click to delete a selected transaction or comment in a row. Click to insert a blank row to insert a transaction or comment. Click to view the Exclusive or Inclusive of VAT amounts. Click to enter a percentage for overall discount for the transactions. Click to change a line or row to a comment and enter a comment for the selected line or row. Click to clear or delete all the transactions and comments from this document. Select any available stock item from the search facility. The description for the selected stock item will be displayed. Enter the quantity for this stock item. Select a valid tax code (Output Tax for Invoices). The discount as entered on the Accounting Information tab for the debtor will be displayed if the Apply Invoice Discount option is set for the Stock Item. You may enter discount for the transaction. The amount will automatically be calculated. It is the unit price x quantities minus any discounts, if any. Scroll bar - scroll up or down to view more entries (transactions and comments). The totals for the transactions in the document. Note the selected selling prices (1/2 or 3) for the selected debtor account. Note the Customer Discount for the selected debtor account as entered on the Debtor Account - Accounting Information tab. The selling price for the selected stock item. It should be the same as that on the invoice for which the credit note is issued. This line or row was converted to a comment.
Select the applicable Stock Item or Service Item from the Stock Item search facility and TurboCASH will automatically display the Item No., Description and Unit Amount in the applicable fields. You need to enter the Quantity in the Ship fields. When the cursor is in the Unit Amount field, the following screen reflecting your 3 selling prices will be displayed:

Transaction details. Selling Prices 1, 2 and 3. Comment line if comments were added for the transaction.

If you use 3 different selling prices, the default selling price 1, 2 or 3 as selected on the Edit - Accounts - Debtor (Accounting Information tab) will be selected. You may select any other available selling price, for this credit note, if you wish.

If you have entered any percentage for Customer Discount on the Edit - Accounts - Debtor (Accounting Information tab) and the Apply Invoice Discount field is selected on the Edit - Stock Information menu option for the selected stock item, the customer discount percentage for the selected debtor account will be displayed. Note you may need to overtype the discount with a zero (0) percentage or any other percentage, if any discount was allowed on the invoice for which the credit note is created.

TurboCASH will automatically calculate the amount for the number of items invoiced in the line. If you are registered for VAT and VAT is applicable to the transactions, remember to check that the amounts reflect inclusive or exclusive of VAT correctly.

You should note that the original prices and any discounts, which was entered on the original invoice document, is correct on this credit note.

If you have selected a credit note, (which have not yet been posted or updated to the ledger), the details of the transactions for the selected document will be displayed. You may add any new items, comments, select stock items and edit the selling prices, quantities and discounts, etc.
When you are finished with the Invoice, press the <Esc> key to close or exit the Stock Item search facility. The following confirmation message will be displayed:


Click on the button to print the document and click on the button on the Document Entry Header screen. The document will be printed to the output method as displayed on the screen.

If you click on the button on the confirmation screen, you may print the credit note later in the Input - Documents - Print menu option. You may also re-print the credit note whether it is posted or updated to the ledger, or not.
You may proceed to create or edit another credit note or another document, or you may press the button on your keyboard to exit the Document Entry screen.

You may set the auto-post documents on print option in the Setup - System Parameters - Documents menu option to update or post documents automatically once a document is generated and printed. If you use this feature and click on the button not to print a document once it is generated, you need to update or post the unprinted documents in this Input - Update Ledger menu option.

You may need to use the speed buttons on the Document Details screen to delete a transaction, insert a transaction, insert a comment, delete all the transactions in the credit note.

If the credit note is created incorrectly for some reason, and is not yet posted or updated to the ledger, you may delete the credit note in the Edit - Delete -Documents menu option.

Credit Notes should also be issued for returns of items sold in the Point-of-Sales Invoicing system, if payments have been processed.

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Content released by Digidan under the GNU Free Documentation License 1.2.