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A Supplier Credit Note is a form or letter sent by a seller to a buyer, stating that a certain amount has been credited to the buyer's account. A credit note is issued in various situations to correct a mistake, such as when an invoice amount is overstated, the correct discount rate is not applied or they do not meet the buyer's specifications.
The Credit Note options available in Chase include:
- Credit amount manually. Allows you to enter whatever amount you need to credit.
- Credit the Full / Outstanding value of the Supplier Invoice. Enter the full remaining amount to be credited.
- Credit 50% of the Supplier Invoice. Credit only 50% of the Supplier Invoice value.
- Credit other % of the Supplier. Allows you to enter a percentage of the Supplier Invoice to credit (e.g. 25%, or 75%).
Supplier Credit Note screen