SFM Credit Note

SFM: How to Issue a Credit Note

A Credit Note can be used to reverse an invoice that has been posted incorrectly in SFM. This allows you to adjust or cancel the original transaction while maintaining a complete audit trail.

Creating a Credit Note

To create a Credit Note, navigate to one of the following locations:
Sales Credit Note
- Current\Previous Year > Sales > Posting > Credit Note
Purchase Credit Note
- Current\Previous Year > Purchases > Posting > Credit Note

Once the Credit Note screen opens, complete the fields marked in the screenshot as follows:



- Code (1) - Select the appropriate customer or supplier code.
- Ext Ref (2) - Enter the Reference for the transaction.
- Date (3) - Select the Credit Note date.

Entering the Credit Note Line Item Details

In the lower section of the screen, enter the details of the invoice being credited:
- Details (4) - Enter a description that clearly identifies the original invoice line item being reversed. 
- Analysis (5) - This field is optional and is primarily used for reporting and analytical purposes. If your company does not use Analysis Codes, this field may be left blank.
- A/C Code (6) - Select the appropriate General Ledger account code.
- VAT (7) - Select the correct VAT code for the transaction.
- Amount (8) - Enter the amount to be credited. The system will automatically calculate the VAT Amount based on the VAT code selected.
- Once the line item information has been entered, review the details carefully and click Save (9) to save the line item. 
- Repeat this, for every line item.

Updating and Printing the Credit Note

Once the last line item is inserted:
- Press the Cancel Button (10) or Escape (Esc) key on your keyboard.
- Review the information displayed and proceed with the update.
- Click Update and Print (11) from the left-hand side of the screen.

Posting the Credit Note

A confirmation window will be displayed before the transaction is posted.
- Review all details to ensure they are correct.
- Click Post or Post & Print to post the Credit Note.
- If you need to abandon the transaction before saving, click Cancel.


Once the Credit Note has been successfully posted, the Credit Note document will remain available for printing, viewing, and future reference.

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