A credit note is a bit like a reverse invoice; something to cancel out – partially or completely – an invoice you have issued in the past. It may be for the full amount of an invoice or it may be for less in the case of a partial refund.
You might issue a credit note if:
- Someone wants a partial or complete refund for their purchase
- You issued an invoice by accident that the customer doesn’t really have to pay
- You over charged someone by mistake and need to reimburse them
Credit notes have always positive amounts in Quaderno. An invoice is always a negative amount, e.g. charging someone $50 for a fine pair of hand-crafted shoes that means they must pay you $50 (-$50 from their account).
A credit note is therefore always positive, because you are returning money to your customer. In the case of the lovely shoes, this would mean that their account is now +$50, and you are plus one mighty fine pair of artisanal loafers that perhaps you wanted to keep anyway…
A Quaderno credit note can be assigned one or more of the following states:
- Outstanding: The credit note has not been marked as paid (i.e. the refund has not been made to the customer yet).
- Paid: The credit note has been marked as paid.
- Void: The credit note has been canceled.