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Free Accounting Software Forum - Credit Note / Debit Note

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11/12/2012
How we post the CN/DN inside the account?
it's using receivable worksheet/ payable worksheet?
12/12/2012
You just enter credit notes (CN) as a Sales Invoice with negative amounts. When you print the document the heading is still "Tax Invoice" which is a valid heading for GST purposes. You may like to type and entry comment such as "Credit Note for ..." or "Credit for ...".

If you are registered for GST this is a valid way to issue a credit note which is actually technically called an Adjustment Note. The valid headings on a credit note with GST are:
* Tax Invoice (where the adjustment is shown as a negative amount, which it is)
* Adjustment Note (you can add the word credit e.g. Credit Adjustment Note or Adjustment Credit Note)
* GST Adjustment (ATO Ruling AN 2012/1)
* Tax Invoice Adjustment (ATO Ruling AN 2012/1)

Also note that the exact requirement for a valid adjustment note is that it can be clearly ascertained from the document that it is intended as an adjustment note. Which is why the heading is important but in the ATO Ruling, AN 2012/1, they also mention that a statement in the document could also make it clear.

On the purchases side the document heading is probably not that important unless you are using the purchases document to create a Recipient Created Tax Invoice. In this case you could upload a customised Purchase Invoice template with that as the heading.
16/12/2012
CLOSING STOCK & TRIAL BALANCE
How we post the monthly closing stock inside the account?
If i need check trial balance where i should refer?
TQ
20/02/2013
The simple way would be to just do an accrual journal to record the value of stock and adjust cost of goods sold.

Otherwise if you want to be more precise you can get the software to do this automatically with each sale and purchase. Check the inventory videos for how to do this.
 

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