Credit note template is a note example that shows the process and procedure of recording the products, quantities and agreed prices for products or services the seller provided but the buyer returned or did not receive. A well-defined credit note sample can help accounting professionals with efficiency and effectiveness.
Credit Note Design
Credit note needs to understand the difference between credit note and debit note. A credit note is used to rectify errors in an already-issued sales invoice or receipt. Credit note is one that relates to sales return. When supplier sold goods to customer and the customer returned some parts of goods. Debit note is one that relates to purchase return. when purchaser bought goods from supplier and some parts of the goods returned by him. Then for such parts of goods it is issued by purchaser to supplier. From Accounting perspective, credit note is a liability and debit note is an asset.
Credit note needs to understand the function and use. The key function of the credit note is to correct an invoice that has already been processed and sent to the buyer. If you have already sent an invoice to a buyer but now need to provide a credit for that invoice, you would send them a credit note or credit memo. Credit note can also be used to allow the buyer to purchase an item or service from that seller on a future date. In this regard, the credit note is similar to the gift card.
Credit Note Template Layout
There is free note template you can download for reference, however, you may design your sample credit note template based on the accounting needs and requirements. During the design process, it is important to take into account the credit note format, credit note layout and credit note outline in the credit note example.
The first key part in the credit note template is the header. In the heading section, you may give an overview of the credit note. For example, The Business Name:__; Business Location:__; Credit Note Reference No.:__ etc.
The second key part in the credit note sample is the main body. In the section, you need to give details of the goods or services. For example, The Product Quantity:__; The Product Description:__; Price Value:__ etc.
The third key part in the credit note example is the footer. In the section, you need to give detail reasons for the credit. You may also give information for the credit policy etc. For example, the Reasons for the credit:__; Original Invoice No:__; The signature:__ etc.