What is 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 that particular transaction has never taken place and consequently 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! Simply select the invoice you wish to change or cancel from your invoices section. A new screen will open. From the drop-down menu at the top right, go to "More actions", select the option "Request Change", and describe the reason why you wish to change or cancel the invoice (e.g. the amount or date are incorrect, the customer has never issued the payment).
The system will then generate the credit note, which will be sent electronically to the Interchange System (SDI). Once the process is complete, you will receive an email confirming the credit note has been issued. If necessary, you can proceed to create a new invoice.
❗Please note that stamp duty applies to credit notes, as well as standard invoices.