Good day all.
Please is there a way to raise a credit note from JV to affect the revenue?
I discover that the credit note raised from jv only affect the invoice but doesn’t have effect on the total revenue.
Kindly assist if there is a way out of this as a prefer using jv instead of from sales invoice.
which account you have debited when you created credit note from JV?
The customer is debited against the sales account when you created the sales invoice right? stock account was credited against the cost of goods sold account. If you are creating a credit note for the customer through JV, sales account should be debited. How about the inventory? Are you getting it back?
Thank you for your response @Saumyaseelan_Pv. I was making the mistake of debiting the stock for a service render rather than debiting the revenue in which it report to.
I have been able to solve the issue.