Accounting and Invoicing - Odoo

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Issue a credit note

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Learn everything you need to grow your business with Odoo, the best open-source management software to run a company, at https://www.odoo.com/r/NlF In this video, learn how to issue a credit note. Need more information about Odoo apps? https://www.odoo.com/r/cfi Discover Odoo, schedule a demo, or start your own Odoo revolution for free (no credit card required), at https://www.odoo.com/r/kASR

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1. What is the main purpose of a "Credit Note" in Odoo Accounting?

To increase the amount a customer owes to the company for a new purchase. To notify customers that they have been credited, often due to a returned or damaged product. To pay the company's monthly utility bills and office rent.

2. What happens to the accounting entry of a credit note compared to a regular invoice?

The debit and credit entries are reversed: the income account is debited and the receivable account is credited. The debit and credit stay exactly the same as a regular invoice to avoid confusion. Odoo deletes the previous invoice and replaces it with a blank document.

3. If an invoice is unpaid and you issue a partial credit note, what does Odoo do automatically?

It sends an alert to the customer's bank to cancel their credit card. It marks the entire original invoice as "Paid" regardless of the amount. It reconciles the credit note with the invoice and marks it as "Partially Paid".

Accounting and Invoicing - Odoo

Issue a credit note

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