Glossary · credit memo · credit memorandum
Credit note: definition
A credit note is a document that cancels or corrects all or part of an invoice already issued. Under most VAT rules, an issued invoice cannot be edited or deleted: it is corrected with a credit note.
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When to issue a credit note
A wrong amount, a discount granted afterwards, returned goods, a cancelled service: the credit note quotes the reference of the original invoice and the amount credited, including VAT.
It follows the same path as the invoice. If the invoice went out as an e-invoice, the credit note should too, so that the customer's accounts stay in line.
A clean record of every correction
Because the original invoice keeps its number, your invoice sequence has no gaps, and your accountant can see what was corrected and why. Check your local rules for the details a credit note must show.
Credit notes in Eazyclick
In the Quotes & invoices module, a full or partial credit note is created from the invoice itself, with no re-entry, and goes out in the same format as the invoice.
Related terms
Further reading
Practical guides
Questions about Credit note
Can I delete an invoice I have sent?
No. An issued invoice keeps its number; you cancel or correct it with a credit note.
Is a credit note the same as a refund?
Not exactly. The credit note is the accounting document; the refund is the money paid back. A credit note can also be offset against a future invoice.
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