Correct a debtor credit note when posted incorrectly
To correct an incorrectly posted credit note, follow these steps:
Step 1: Locate the Aged Debtor Account
Navigate to Accounts, then within the Company menu, select Aged Debtors.
Find the correct debtor account.
Step 2: Find the incorrect credit note
Within the account, go to the Transaction History, and review the Credits section.
Locate the credit note that has been posted incorrectly.
Step 3: Review the Credit Note Details
Click on Tracking to view the breakdown of the credit note.
Identify the analysis codes that were used for the credit.
Step 4: Post an Invoice as a Reversal
Once you’ve identified the correct analysis code, click the Invoice button located at the bottom right of the screen.
Enter a description for the invoice, including the original Credit Note Reference Number and any other relevant details.
Click Add to choose the analysis code that will reverse the credit.
Enter the value to reverse, either partially or fully, as needed.
The description entered here will appear on the invoice.
After entering the necessary information, click Post.
📌Note: If more analysis codes need to be reversed, click Add and repeat the process.
Once all necessary entries have been made, create the document.
Step 5: Allocate the Credit Note to the Debit
Allocate the original credit note to this new debit by clicking Allocate.
Select the appropriate invoice and click Save.
Step 6: Verify the Balance
The balance of the credit will now be adjusted, reflecting the correction.
This process ensures that an incorrectly posted credit note is properly reversed by posting an invoice as a counteracting entry, keeping your ledger accurate.