I’m new to VAT, credit notes, etc. I have a question:
I have a client and I need to return him some money but the amount is different then any of the amount on the invoice and I can’t do the right amount for credit note. Can you please advise how to return different amount.
Create the credit note from the “more options” menu on the original invoice, and then you can set whatever value you want (up to the original invoice value). When you save the credit note it’ll ask you whether to hold the funds on account or refund them - if you select “refund” it’ll create a pre-tagged transaction on your bank account for the appropriate amount and you can delete the untagged duplicate from your bank feed (if you have one).
yes, but I cannot put the amount I want because is completely different than the amounts already into the invoice
As long as the amount you want to return isn’t more than the total of any single invoice, then the method I’ve described will work - you can edit the amounts when you create a credit from an invoice, up to a maximum of the original invoice value.
If you want to refund more than the value of the largest invoice then you will need to raise several credit notes against different invoices to add up to the right total. Again this will create pre-tagged bank transactions for each one but as long as the total matches the amount you actually refund then that’s fine from an accounting point of view.
Or you might be able to do an ad-hoc credit note by simply creating an invoice with a negative value (I know I can do this with purchases but I’ve never had reason to try with sales). These don’t let you hold funds on account but as you’re refunding directly anyway that wouldn’t be a problem.
ok, the amount of the invoice is £2432.18
I need to pay back the client £1657.49
but I cannot do it… I go to credit note- then all amounts are with - (minus)- when selecting them- is not coming the right amount
I set by feed banking but is from 8th March- can’t go any futher
That is correct, QuickFile models credit notes as invoices with a negative total. When you first create a credit note it defaults to crediting the full value of the invoice (so -2432.18 in your case) but you can change it to any value between that and zero (such as -1657.49).
but how? do you have a movie or picture? I don’t understand how… sorry
it’s said credit note total: GBP -2432.18
then when I press save & send is coming refund or hold and that’s it
Yes, it initially starts as the full value of the invoice you are crediting, but you can edit the invoice lines including the net, qty, VAT and total columns before you press save, exactly the same as you can when creating a new invoice from scratch.
so, I can just edit the amount. but is this ok and what about the original invoice?
edit the invoice until I get my amount for refund but… is this change the VAT, amount of the original invoice or it’s stay the same?
If the original invoice was already fully paid up then none of its values will be affected by the fact that you’ve raised a credit note (the badge changes from “paid” to “credited in part” but the values don’t change).
I’ve done it but is it any easier way? OMG- I changed almost everything on the invoice- all amount to get that
If you have an invoice your customer has paid and you want to part-refund it then the process is simply:
- drop down “more options” -> “credit note”
- edit the net & vat values on the credit note to give the amount you want to refund (as a minus number)
- “save”, and select the “refund” option
I don’t see how that could be made any easier while still collecting all the required information (the net/VAT breakdown of the refund amount).
i will ask more question if I need to
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