What is Credit note | Record Sale Return Entry In TallyPrime

Credit note document is prepared by the supplier on receiving the goods return By the customers/debtors.

Credit note is a debit of the creditor's account and a credit on the purchase returns account. If the buyer has not yet issued payment for the original invoice, the credit note reduces the liability. It means that the liability of the money that they owe the seller is reduced.

It directly has a negative effect on the sellers accounting balance. The credit note informs clients about the credit provided in their account.

What is the difference between credit note and debit note?

The main difference between credit note and debit note is that credit notes record money that sellers owe to a client and debit notes record money that a client owes to sellers.

When purchase is return a debit note is issued, while a credit note is issued when there is a sales return.

How to record Credit Note in TallyPrime

Step 1 Click on vouchers

Step 2 Click on Other vouchers

Step 3 Click on Credit Note (ALT + F6)

If this voucher not showing in Tally Prime then you can press on show Inactive

Step 4 Now pass Debit Note

1.  Following item retuned to Ghansyam IT Hub 

Credit Note 

2.  Following item retuned to Dubay Mobile Marketing

Credit Note 

3. Following item retuned to Adarsh A to Z Mobile Hub

Credit Note