AsrayaDec. 11, 2018
Credit Note is also known as Credit Memo, which is a letter sent by the seller to the customer advising the customer that they have been credited a specific amount because of an error in the original invoice or other reasons. The issuing of credit note in different circumstances to amend an oversight, for example, when an invoice amount exaggerates, the correct discount rate not applied, merchandise damages within guaranty period or they don’t meet the customer’s requirements and are return. On the Credit Note, the provider will list the items, amounts, and price of goods and services that will settle upon by the two parties. Moreover, it will normally reference the original invoice and express the purpose behind the credit note.
Odoo is a suite of open source business applications that assistance in overseeing business activities and organizations. Odoo goes for vanquishing new regions and enlarging its usefulness. Develop sales, run tasks, sort out promoting exercises, increase productivity and empower HR - all with Odoo. Odoo invoicing is a business supporting module, which comes along with ample features like Customer Invoicing, Customer Credit Notes, Purchases, Adviser, Reporting etc..
In this credit Note concept, it represents the amount that a seller owns their customer. A credit note issues in the name of customers in order to keep track of this debt until it’s paid off. In Odoo the debt remains until it’s payment registration is done. It is possible to create credit note in Odoo for customer or supplier from an existing invoice also.
Let see how to create Credit Note in Odoo
There are two options to create Credit Note
1. Creating from ‘Customer Invoice’
Go to Invoicing > Documents > Customer Invoices > Select an Invoice
Click on Add Credit Note option.
Tick the appropriate check box for selecting the Refund Method, also mention the reason for Credit Note. Click on Add Credit Note.
You may find a credit note, added with the selected invoice.
Open the Customer Credit Note which you have created recently.
Click on the Validate option to confirm the Credit Note. The form will show Amount Due and Outstanding Debts.
2. Creating a new Credit Note From ‘Customer Credit Notes’
Go to Invoicing > Documents > Customer Credit Notes > Create.
Enter Customer Details and Invoice Date. Click on Add an Item to add the products > Save.
You can select the Validate button from the top left corner. The bill shows outstanding payments for the selected customer. Also, you can see the options like Send by Email, Print Invoice, and Register Payment.
You can enter the payment details After payment done. for that go to Register Payment > Credit note amount will display on the Payment Amount column. Also, choose a Payment Journal Option (either bank or cash). Click on Validate to confirm the payment.
Now the bill shows Amount Due as zero > Save