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?