ℹ️ Not a franchisee or exempt from VAT? If you're subject to VAT, read our dedicated guide instead: How to create a credit note for a previous purchase as a subject to VAT business?
💡 What is a credit note?
A credit note is the opposite of a purchase invoice: it cancels a previously invoiced amount, in full or in part.
You create a credit note when you want to fully or partially cancel the effect of a purchase invoice, for example because you returned something, received a discount afterwards, or need to correct a mistake.
Please note that this article provides general guidance only. Tax rules may vary depending on your individual situation. When in doubt, ask your Tax Coach.
This article explains what to do when you have received a credit note from your supplier, when you have not received one and need to create it yourself, and answers the most common questions on this topic.
✅ You received a credit note from your supplier
If your supplier has issued you a credit note, simply import it as a credit note.
Go to the Expenses screen.
Click Upload new expense and upload the credit note you received from your supplier.
Enter a minus sign (−) in front of each amount, as a credit note is a negative expense.
Use the same categories as on the original invoice and, if necessary, split the items in exactly the same way.
Use the date that fits your situation: if the credit note falls in the same year as the original invoice, use the date of the credit note itself. If the original invoice falls in the previous year, use the date of the original invoice instead, so the correction lands in the correct tax year.
❌ You didn't receive a credit note from your supplier
If you didn't receive a credit note from your supplier but still need to make a correction, create one yourself in Accountable, based on the original invoice.
Go to the Expenses screen.
Click Add a credit note on purchase.
Upload the original invoice you want to credit.
Enter the date of the original invoice, so the correction lands in the correct tax year.
Use the same categories as on the original invoice and, if necessary, split the items in exactly the same way. Use the original invoice as your reference.
The credit note must mirror the original invoice item by item, using the same categories and amounts, but with all amounts entered as negative values. For example, a credit note for €100 should be entered as −€100. What remains in your bookkeeping is the original invoice, the credit note, and the new invoice, where the credit note cancels out the old invoice.
❓ Frequently asked questions
Have you already filed your personal income tax return for that year?
If so, you can no longer make the correction this way. Contact your Tax Coach so you can look together at the best way to fix it, for example through an objection.
When is it safe to delete a purchase invoice as a franchisee or exempt business?
Sometimes you receive an invoice you shouldn't have received in the first place, for example via Peppol when it was actually a private purchase, or you simply want to remove an expense. The key question: has a return that includes this invoice already been filed, for example a special VAT return or your personal income tax return? If not, it's safe to simply delete it.
I made a small mistake on my first invoice. Do I need to credit it in full?
Yes. Even for a small mistake, you credit the invoice in full and then add the correct invoice afterwards. This is the simplest way to keep your bookkeeping accurate, even when the mistake was minor.
Key takeaways
A credit note cancels a purchase invoice in full or in part and is entered as a negative expense in Accountable.
If your supplier sends you a credit note, upload it via Upload new expense and enter all amounts with a minus sign.
If you have no credit note from your supplier, use Add a credit note on purchase to create one yourself based on the original invoice.
Always use the same categories and date as the original invoice so the correction lands in the correct tax year.
If the personal income tax return for that year has already been filed, contact your Tax Coach before making any correction.
Need help? Chat with us or email support@accountable.eu, we're happy to help.