Sage 200  Extra 2016

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Record customer credit notes

Use this to enter credit notes and free text credit notes directly onto to a customer's account in the Sales Ledger. Credit notes are entered in the same way as invoices.

By entering a credit note onto the ledger you reduce the turnover for the relevant customer's account. You can also reduce the customer's turnover by using the reverse posting facility.

Use free text credit notes to give credit for non-stock items or services and be able to print a physical credit note for these. The credit note number printed on the credit note is the Next credit note number, set in Accounting System Manager System Settings Operational settings tab.

If you want to produce a printed credit note from a stock item then you need to use the Sales Order Processing module.

To enter a credit note

Open: Sales Ledger > Enter Transactions > Credit Note.

  1. Select the customer account you want to add a credit note to.
  2. If the customer's account is in a different currency, accept or amend the Exchange rate.

    You can only change the exchange rate if the exchange rate is set to be amendable in Accounting System Manager.

  3. Enter the credit note details and amend default values where required.
    • To check that the Reference and Credit note date combination is unique, click the button.
  4. Enter the Transaction details, Goods value, Discount percent, Discount days and Discount value.

  5. If the customer's account is in a different EU currency and the credit note is a triangulated transaction, select Triangulated. This makes sure that the transaction is marked with the correct indicator on the EC Sales list.
  6. If required, enter the Project Analysis details for each item on the credit note.

    The Project Analysis tab is only available if you are using the Project Accounting module.

  7. Accept or amend the VAT analysis for each item on the sales credit note.

    If you are working with goods items which have different VAT rates applied to them, ensure the value in the VAT analysis matches the VAT value for the transaction.

  8. Accept or amend the Nominal analysis requirements for each item on the credit note.

    You can change the Narrative to make it more meaningful for your business.

    Both positive and negative values can be entered in the Goods Value for nominal analysis.

  9. Click Save, to store the credit note.

    Click Save and Retain Code to save the credit note but retain the customer account. This means that you can record another credit note for the same customer.

To enter a free text credit note

Open: Enter Transactions > Free Text Credit Note.

  1. Select the customer account you want to add a credit note to.
  2. If required, you can change the Nominal Account using the drop-down list.

    The nominal account specified on the customer account is displayed by default.

    Note: If the nominal account is not a valid account, a warning message will appear. If you continue with the posting without changing the nominal account, the invoice will be posted to the suspense account.

  3. Click Save.