What's a credit note?
A credit note is an adjustment document referring to an invoice containing one or more errors. This document makes it possible to modify the invoice or cancel it completely, so that you can issue a new one or communicate to the Revenue Agency that a specific transaction has never taken place, and consequently, that it will not be necessary to pay any taxes on it.
How to issue a credit note with Xolo
With Xolo, issuing a credit note is very simple!
- Select the invoice you wish to cancel from your Income section.
- A new screen will open. Select "More actions", then "Create credit invoice".
The credit note automatically includes a section called “Credit for”, which shows the details of the original invoice it refers to.
In this section, you can view:
- the invoice number
- the customer
- the date
- the credited amount
This ensures you always have a clear and direct reference to the invoice you are correcting. You can also add additional notes in the Comments section at the bottom.
Once you have completed the credit note, click on “Save credit note” to proceed.
- The system will then generate the credit note, which will be sent electronically to the Interchange System (SDI). The credit note is now saved, and you can find it in your invoice list, marked as "credit invoice".
If necessary, you may now create a new invoice. Learn how. 👈
❗Please note that stamp duty applies to credit notes, as well as standard invoices.