Issue of credit note by the supplier for over priced invoice


This query is : Resolved 

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This discussion addresses how a supplier should issue a credit note when an invoice has been overcharged by a small amount (50p per metre in this case). It also explains the correct accounting entries for the buyer, which involve crediting the purchase and debiting the supplier's account to reflect the correction.

02 May 2023 My supplier over priced gst invoice by 50p per metre. What will he write in the credit note and how will i make entry in my books of accounts?

02 May 2023 Write over priced in the credit note.
Credit the purchase and debit the supplier.

02 May 2023 Over priced by 50p in the gst invoice so issued credit note by the supplier

02 May 2023 No problem credit note can be issued.


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