LEARN CREDIT NOTE

BUSINESS GLOSSARY 2022 SERIES

UNIQUE BUSINESS IDEAS

WHAT IS A CREDIT NOTE IN BUSINESS?

CREDIT NOTE ALSO CALLED CREDIT MEMO. 

UNIQUE BUSINESS IDEAS

WHAT IS A CREDIT NOTE IN BUSINESS?

IT IS A DOCUMENT ISSUED BY SELLER TO BUYER TO NOTIFY THAT BUYER HAS BEEN CREDITED A CERTAIN AMOUNT .

UNIQUE BUSINESS IDEAS

EXAMPLE WHEN CREDIT NOTE IS ISSUED.

SUPPLIED GOODS ARE DAMEGED.

UNIQUE BUSINESS IDEAS

EXAMPLE WHEN CREDIT NOTE IS ISSUED.

SELLER CHARGED MORE THEN THE ACTUAL PRICE.

UNIQUE BUSINESS IDEAS

EXAMPLE WHEN CREDIT NOTE IS ISSUED.

ELIGIBLE DISCOUNT NOT APPLIED ON INVOICE.

UNIQUE BUSINESS IDEAS

CREDIT NOTE ISSUED UNDER GST.

INVOICE TAX VALUE IS GREATER THAN ACTUAL.

UNIQUE BUSINESS IDEAS

CREDIT NOTE ISSUED UNDER GST.

UNIQUE BUSINESS IDEAS

APPLIED TAX RATE IS HIGHER THAN APPLICABLE GST.

CREDIT NOTE ISSUED UNDER GST.

UNIQUE BUSINESS IDEAS

INVOICE QUANTITY IS GREATER THAN ACTUAL SUPPLIED.

MUST HAVE INFORMATION ON CREDIT NOTE

ISSUE DATE

NUMBER & INVOICE NUMBER

UNIQUE BUSINESS IDEAS

MUST HAVE INFORMATION ON CREDIT NOTE

UNIQUE BUSINESS IDEAS

PAYMENT TERMS

CONTACT DETAILS

TIME LIMIT OF ISSUING CREDIT NOTE.

ON OR BEFORE 30 SEPTEMBER .

UNIQUE BUSINESS IDEAS

ON OR BEFORE THE SUBMISSION OF ANNUAL RETURN .

OR

FOR A  FINANCIAL YEAR WHICHEVER IS EARLIER

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