Hi, I have a question:
When a customer returns on a paid invoice, does credit note deduct the return amount from account (cash or bank depending on initial payment)? Or a journal entry needs to be created in order to reflect the refund?
Thanks
Hi, I have a question:
When a customer returns on a paid invoice, does credit note deduct the return amount from account (cash or bank depending on initial payment)? Or a journal entry needs to be created in order to reflect the refund?
Thanks
Credit note is made against outstanding invoice. For refund, just make cadh/bank entry
Thank you.