ADJUSTMENTS (CREDIT) NOTES

When goods (Items) are returned for credit, an Item Adjustment Note must be issued. It can be created by recording it as an Item Sale for a negative quantity of Items (i.e. the number of items being returned). The amount will also display as a negative (credit) amount.

Although created as Invoice status, when printed the form will be automatically labelled Adjustment Note.

Note: be sure to use the correct GST tax code (i.e. the same tax code as the original invoice), thus automatically updating your tax reports.

If you give (or get) early settlement discounts, an Adjustment Note must be issued to supplement the original Tax Invoice.

A Service Adjustment Note can be created by recoding a Service Sale for a negative (credit) amount (entered with a minus sign).

When printed, the form will be labelled Adjustment Note.

To create a credit for writing off a bad debt:

  1. Go to the Sales Command Centre
  2. Choose Enter Sales
  3. Select Invoice status from the drop-down list
  4. Click the Layout button
  5. Select Miscellaneous
  6. Click OK
  7. In the Customer field, type the Customer’s name as per the Card File or click on the drop-down list
  8. Accept or change Invoice #, Date and Journal Memo
  9. Enter appropriate Description details
  10. Enter the allocation Acct # for Bad Debts
  11. A dialogue box will suggest you should use an income account – ignore and click OK
  12. Enter the Amount to be written off as a negative value (minus sign)
  13. Enter the same Tax Code as per the original sale
  14. Choose Record
  15. Return to the Sales Command Centre
  16. Choose Sales Register
  17. Select Returns & Credits tab
  18. Click Apply To Sale to apply the credit against the written off invoices
  19. Click Record

For further assistance: Contact Melanie Jenkins
Download this MYOB Help Sheet with accompanying images to assist you with each step below…

ADJUSTMENTS (CREDIT) NOTES

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