Credit Note: General Area

Use the general area of the credit note to enter general details pertaining to all items added to the document. General area fields described below are arranged into several logical groups following the organization of fields in the General area of a form page. The following subsections of the General area are singled out:


Return Invoice

Field

Used for

Customer

Select a customer from the list of customers which were previously entered into the system for whom you are decreasing or canceling the amount of previously issued Invoice.

  • Note, that customer has to be chosen prior before working with the document. Without selecting the customer you will not be able to select the particular invoice that will be the base for the credit note. When changes are made in this field, such fields as Invoice and other that consist the data from this invoice and data from collections will be cleared out.
  • It is a required field. If a customer is not selected, you will not be able to save the document.

Return Invoice

Select a previously issued invoice which you want to clear or edit with a credit note.

  • The majority of the fields and data in the credit note document will be auto-completed based on the current invoice; you may manually change the data in some of such fields later if required. When the invoice is changed, the data in such fields will be changed.
  • It is a required field. If you do not select a return invoice, you will not be able to save the document.

Fill from invoice button

After selecting the return invoice, click the Fill from invoice button to retrieve item lines from the invoice and copy them to the Items section of the credit note. Values of the item line fields will be copied from the return invoice and transferred to the item line fields of the credit note. Still, you can change these values, if necessary.

  • The use of this button is optional, you may fill in all the required fields manually.

Address Details

Field

Used for

Registered office address

The customer’s registered office address where all official communications have to be sent. 

  • The field is completed automatically when the return invoice is selected if a registered office address is defined for the customer.
 Shipment address

The customer’s ship-to address to which the items were delivered. 

  • The field will be auto-completed when the return invoice is chosen or changed. Hence, you may change the data in this field manually when required.
  • When the customer in the respective field is changed, the data in this field will be erased.

Contact Details

Field

Used for

Sales manager

Select a salesperson who issued the credit note from the list of your employees. 

  • The field will be auto-completed when the return invoice is chosen or changed. Hence, you may change the data in this field manually when required.
  • When the customer in the respective field is changed, the data in this field will be erased.

Customer contact

Select the customer's contact person from the list of contact persons previously added into the system for this customer or create a new contact person.

  • A default contact person defined for the customer is provided automatically onсe you select the return invoice. You can change it if necessary.

Sales channel

A means of selling to customers. Select the relevant sales channel from the list of created sales channels or add a new one.

  • Sales channel is provided automatically once you select the return invoice. You can change it if necessary.

Phone

Contact person’s phone number.

  • The field will be auto-completed when the return invoice is chosen or changed. Hence, you may change the data in this field manually when required.
  • When the customer in the respective field is changed, the data in this field will be erased and you will have to refill it from scratch.

Payment Terms

Field

Used for

Customer bank account

Select a customer's bank account to which the amounts have to be returned according to the current credit note, that were previously paid by the customer based on the invoice.

Payment terms

Select payment terms set by the customer for the current credit note. In Codejig ERP, payment terms comprise the following components: net terms that indicate when the payment of entire invoice amount is required and discount terms that offer discounts for an early payment.  

Due date

Due date is a date before which the credit note has to be paid.

  • It is set automatically being calculated based on the indicated net terms and the credit note date. However, you can change the suggested due date if necessary. In this case, selected payment terms will be disregarded. 

Delay terms

Select delay terms set by the customer for the current credit note. In Codejig ERP, delay terms determine the penalty interest for delayed payment for the document. Penalty interest is payable after the due date.  

 

Document-related Information

Field

Used for

Number

Credit note number is assigned automatically when you save the credit note based on the selected numerator.

Users with the appropriate permissions can override the auto-generated number and enter it manually.

After overriding the credit note number, automated numbering will proceed in the same manner but using the manually set number as a start value. 

Date

Date field is automatically assigned the date and time when the new credit note was created.

The date and time specified designate the posting date and time, the document date and time, and the date and time when the credit note was issued and sent to the customer.

You can override the auto-generated date and time and enter them manually.

  • It is a required field. If you do not specify the document date, you will not be able to save the document.

Credit note number

Document number set by the customer.

Credit note date

Document date set by the customer.

Reference

A creditor reference number that is automatically generated and assigned to the credit note. The creditor reference number allows you to automatically match the credit note with the payment that we make for the customer.

  • If you override the credit note number, the reference number will be automatically updated.

 Document Totals
 

Field

Used for

Currency

Select a currency in which prices of goods and services are set in the credit note. 

  • The field will be auto-completed when the return invoice is chosen or changed. Hence, you may change the data in this field manually when required.
  • When the customer in the respective field is changed, the data in this field will be erased.
  • It is a required field. If you delete the auto-completed currency and do not select an alternative one, you will not be able to save the document. 

Total amount

Displays the total amount of all goods and services added to the credit note in the specified currency.

  • The field is calculated automatically for informational purposes only; it is disabled for editing and cannot be overridden.

Net amount

Displays the total net amount of goods and services to be returned.

  • The field is calculated automatically for informational purposes only; it is disabled for editing and cannot be overridden.
  • The field is unavailable if your company is not identified as a VAT payer by the system. For information on how to set up your company as being registered for VAT and enable required VAT-related functionality,  see VAT Number.

VAT amount

Displays the total VAT amount charged on the net amount or contained in the total price of items and services added to the credit note.

  • The field is calculated automatically for informational purposes only; it is disabled for editing and cannot be overridden.
  • The field is unavailable if your company is not identified as a VAT payer by the system. For information on how to set up your company as being registered for VAT and enable required VAT-related functionality,  see VAT Number.

Price includes VAT

If you want to specify the price for one item without VAT, keep the price includes VAT option turned off.  As a result, VAT amount will be charged on the net amount that, in its turn, will be calculated as price excluding VAT x quantity. The two added together will make up the total amount.

If you want to include VAT at the chosen VAT rate in the stated price for one item, turn on the price includes VAT option. In this case, the total amount will be determined by multiplying the price of one item that is VAT inclusive by the quantity.

  • This field is auto-completed with a data from the chosen or changed invoice. Hence, you may manually change the data in this field if required.
  • When the customer is changed in the respective field, the data in the field price includes VAT will be erased.
  • If your company is not identified as a VAT payer by the system, the price includes VAT option becomes unavailable and is permanently turned off. For information on how to set up your company as being registered for VAT and enable required VAT-related functionality,  see VAT Number. 
 
VAT Details Subsection
 
The VAT details subsection appears on click of the Unfold VAT details icon and includes the following fields:
Note: The entire subsection is unavailable if your company is not identified as a VAT payer by the system. For information on how to set up your company as being registered for VAT and enable required VAT-related functionality, see VAT Number.

Field

Used for

VAT

Displays VAT rate types selected for added items.

  • Each specific VAT rate applied is displayed as a separate line item in the VAT details section. For example, the standard rate was applied to three items and the reduced rate to five. As a result, two line items appear in this section, for the standard rate and the reduced rate, containing certain information related to the charges based on these rates.    

VAT amount

Displays the total VAT amount charged on the added items to which a particular rate was applied.

 
Not all line item fields are displayed by default. To enable such fields, you have to turn on the extended mode for line item by clicking the More button above the list of items.
 
On enabling the extended mode, the following field appears:
 

Field

Used for

VAT base

Displays the total net amount of added items to which the VAT rate was applied. The VAT was charged the indicated net amount.

VAT rate,%

Displays VAT rate (in percentage) according to the displayed VAT rate type.


If you want to turn off the extended mode, click the Less button.
Note: After turning off the extended mode, advanced item details will persist.
VAT Information
 

Field

Used for

VAT number

Your VAT number. It is the national VAT number issued by a country in which you have registered for VAT. Thus, it always starts with a country code that is two letters that refer to the country of the establishment.

  • The VAT number is autocompleted being retrieved from the VAT tab on My Company settings page.
  • Right now, the field is used for informational purposes only; it is disabled for editing and cannot be overridden.
  • The field is unavailable if your company is not identified as a VAT payer by the system.

Customer VAT number

The customer's VAT number.

  • The customer's VAT number is autocompleted being retrieved from the VAT Number page.
  • Right now, the field is used for informational purposes only; it is disabled for editing and cannot be overridden.
  • No value is provided in the field if the customer is not identified as a VAT payer by the system. For information how to specify VAT numbers, see Company: VAT Tab.
  • The field is unavailable if your company is not identified as a VAT payer by the system.


Advanced mode 


Advanced mode - turn on the advanced mode to view the accounts to which receivables and advances from the customer are recorded. The accounts are provided automatically being retrieved from the selected return invoice. If necessary, you can change them.

Credit note reverses accounting transactions made by the return invoice. It makes opposite entries to the accounts of liability and advances. 

Although, if the customer refuses to pay for the part of the delivered goods or services, or returns goods with a lower or bigger price, or due to changes in the currency exchange rates, often occur expenses or incomes connected with the credit note-issuing. The accounts for other expenses and incomes are provided automatically being retrieved from My Company Settings. If necessary, you can change them.


Field

Used for

Set accounts by default

Click the Set accounts by default button to automatically set the default accounts for the customer and for items added in the Items section. Customer accounts will be retrieved from the respective customer record, and, for each item added, item accounts will be fetched from the associated item record. 

  • On click of the Set accounts by default button, you will override accounts selected for all added items and restore default accounts specified in respective item records. So, if you have once selected alternative inventory accounts for your items and do not wish to change them, do not click this button.  

Receivables from customers

Credit note reduces the receivables from customers account by crediting with the total amount of goods and/or services added to the credit note. The total amount is recorded in the currency of the credit note and in the system currency being converted into the latter according to the exchange rate current as of the credit note date.

Currency exchange rates differences that occur along with that are recorded on respective accounts, that were preset in the Chart of accounts in respective customer account or in My Company Settings.

  • The account is provided automatically being retrieved from the selected return invoice. If necessary, you can change it.
  • It is a required field. If you delete the autocompleted account and do not select an alternative one, you will not be able to save the document.

Advances from customers

If the entire return invoice or a part of the return invoice was closed with payment received from the customer, the credit note waives this transaction and increases the amount of advances your organization received from the customer by crediting the advances from customers account. 

The account is provided automatically being retrieved from the selected return invoice. If necessary, you can change it.

  • It is a required field. If you delete the autocompleted account and do not select an alternative one, you will not be able to save the document. 

Other expense account

If the price of the returned goods is greater than their sales price, the expense occurs and it has to be recorded and entered as a debit entry to the other expense account. The data in the field also includes other income received due to the change in the currency exchange rates.

  • The account is provided automatically being retrieved from the selected return invoice. If necessary, you can change it.
  • It is a required field. If you delete the autocompleted account and do not select an alternative one, you will not be able to save the document.

Other income account

If the price of the returned goods is less than their sales price, the income is received and it has to be recorded and entered as a credit in the other income account. The data in the field also includes other income received due to the change in the currency exchange rates.

  • The account is provided automatically being retrieved from the selected return invoice. If necessary, you can change it.
  • It is a required field. If you delete the autocompleted account and do not select an alternative one, you will not be able to save the document.

Profit center

Specify a project or a department that you want to relate to the credit note. The Profitability report shows the profitability of the project.

  • It is an optional field. 

Additional Details

Field

Used for

Note

Add any extra details or comments about the credit note.

Attachment

Add any additional files or external links related to the sales quotation.

  • You can upload images, text files, PDF files, spreadsheets, compressed files and other data files (for example, CSV and XML files).
  • You can download uploaded attachments to your device by clicking a file name. 

 

More information