Streamline Your Credit Note Invoice Format for Communications & Media

Credit note invoice format for Communications & Media

hi in today's video I want to show you how to create credit nodes on N Suite so there are two ways you can either do it straight from an invoice that you know you need to credit so you're going to need to look for the invoice reference here in case you forgot about it you can go to the customer go to the transactions and find it there or you can go to transactions sales create invoices list and then you're going to find your list here and then use filters to find the uh the ual invoice you're looking for maybe filter it down by date or uh internal ID now once you get to your invoice you're going to be viewing it you're not going to be looking at it on edit mode you're going to be viewing the invoice and then you're going to see the credit button here if you don't see a credit button here it means that the uh role that you have the permission that you're using is not allowing you to create credit nodes so you're going to have to talk to your net s administrator to uh have him or her Grant you this access or maybe it's just someone else in your team that is supposed to be doing credit nodes so just let them know the invoice needs to be credited anyway you're on the invoice you clicked on credit so it's going to take the all the information of the invoice uh with the uh quantities the items the the prices so you can decide to make a credit note for the full invoice you just click on Save and it will credit the whole invoice or you can remove some lines from the credit uh memo so it's just going to uh build a credit memo on the value of the items that you keep or you can if you have only one item but let's say uh they want a discount or they want something like a credit memo because maybe there was a problem with the service delivered you might want to change the price level to custom and instead of five maybe put two here then what you'll do is you will click on okay and Save okay that that's one way of doing it so the other way of doing it is by going to transaction and then go into customers and issue credit memos now there's a step that's required for this to work correctly and there's also a control to have so first of all when you create this credit memo on stand alone maybe you know which item this uh customer needs a credit on and maybe on his next purchase uh with your company they're going to get a credit on specific items so if you know which items they are you can enter the items below here if you don't know what items these people are going to be applying this uh credit note on in the future then you can of course create a new item I created here a service item called unapplied credit uh it's a service for sale and what I did is uh on this uh item I'm going to open it for you uh on the accounting section now obviously this account is the account that's going to be credited on any sales invoice you know uh but since this is a credit note then this is the account that's going to be debited on the credit note so of course you're never going to be uh using unapplied credit items on sales invoices you're just going to be applying them to memo this is why this account is going to be used as the account to be debited uh I set the sales account to be debited when you create and save the credit memo okay so once you are aware of this uh there is uh the next thing to to look at now which is the control what I mean by this is when you create an invoice you have to be very careful that on the accounting set up the receip receivable account that you're using is the actual receivable account that's being used on the credit memo to for example here if I go to the accounting subtab of the crate memo I have to make sure that we've got the same receivable account if not then when you go to transaction uh customers and issue credit memo you will not be able to see the um available credit memos to apply on this customer you know so you just have to make sure the receivable accounts are the same now once this is done um you save your your credit memo your unapplied credit memo and then at the latest stage you're going to go to transactions customers accept customer payment and this is once you've had like once you've sent the customer invoices and they've got these unapplied credit memos this is where you're going to want to make sure you you're picking the right receivable account uh of course uh scroll down to uh the apply section and then you're going to see here invoices and credits okay if you did not use the the same receivable accounts on the invoice and credit you're not going to be able to do this so what you want to do now is click on apply on invoice and click on apply on credit so right now what happens is the credit member value of 595 has been applied to the invoice that has been selected here so maybe you have many invoices too by the way it could be one credit memo applied to many invoices now of course it's only the uh the amount of the invoice that's going to be applied from the credit memo so if the credit memo was of 595 uh USD it's only five that are going to to be uh applied from this credit member to this invoice the remaining credit member is going to be open to be applied to Future invoices okay once you've done this you can click on Save okay now it's it's asking me a value for location because it's a mandatory fail I'm going to click on Save here and what it will do is now it will have uh applied this credit memo to the invoice okay so now we go back to the original invoice that we applied the credit memo against and we see now that it's been paid in full so it's not open anymore if we scroll down we see uh on the related records which is somewhere here if I click on this I can see here that there is a credit memo number 86 that has been applied to it and that's the way the second way to create credit memos and apply it to uh an invoice now if you go to the credit memo itself and you go to to actions and G impact you will be able to see the impact that this credit memo had on your gen general ledger okay so that's all for today I hope that this video was useful to you if so don't forget to leave a like or subscribe and I will see you on the next video thank you and goodbye