9. Credit Note

Credit Note

Add Credit Note

The Credit Note feature allows users to record adjustments for returns or corrections of invoices. Here a detailed guide on creating a Credit Note in Sky Books.

 

Credit Note Details

  • Credit No: Sky Books will automatically generate a Credit Number (e.g., CN0032), or you can customize it.

  • Customer Name: Select the customer from your contact list or add a new one if required.

  • Tax Type: Select the applicable tax type for the transaction (e.g., GST).

  • Date: Enter the date for the credit note (e.g., 28/02/2025).

  • Place of Supply: Enter the place of supply for the transaction (e.g., Delhi).

 

Item Details

Under the Item Details section, list the items that are being returned or adjusted:

  • Item: Choose or enter the product being adjusted (e.g., 1 - iPhone).
  • Quantity: Enter the quantity of the items being adjusted (e.g., 6).
  • Rate: Enter the rate per unit (e.g., ?60,000.00).
  • Discount: Enter any discount applied (if applicable).
  • Tax: The system will apply the tax rate (e.g., 18% GST).
  • Amount: Sky Books will automatically calculate the total amount based on the Quantity, Rate, Discount, and Tax.

 

Additional Information

  • Our Notes: Add any custom notes related to the credit note (e.g., "Adjustment due to returned goods").

  • Others: Enter any additional charges related to the credit note (e.g., shipping fees, handling charges).

    • Others Name: Enter the name of the additional charge (e.g., Delivery Fee).
    • Others Amount: Enter the amount for the additional charge (e.g., ?500).

 

Calculation of Totals

Sky Books will automatically calculate:

  • Sub Total: The sum of all item amounts before tax.

    Example: Sub Total = ?360,000 + ?480 = ?360,480

  • CGST (Central Goods and Services Tax): The tax amount for CGST (if applicable).

    Example: CGST @ 9% = ?32,400 (on ?360,000).

  • SGST (State Goods and Services Tax): The tax amount for SGST (if applicable).

    Example: SGST @ 9% = ?32,400 (on ?360,000).

  • Others: Additional charges (if any) are added here.

  • Round Off: If required, Sky Books will round off the final total to the nearest value.

 

Final Amount Calculation

  • Total: The final total will include the subtotal, taxes, additional charges, and any round-off adjustments.

 

Benefits of Using Credit Notes in Sky Books:

  1. Track Adjustments: Efficiently manage product returns, corrections, and adjustments.

  2. Automatic Tax Calculation: Automatic application of GST or other applicable taxes ensures accuracy.

  3. Vendor Management: Easily track customer transactions and balances.

  4. Customizable: Add extra charges, custom notes, and adjustments to provide a more detailed and accurate credit note.