We had made an invoice to one of our clients amounting to GBP 15000 . Later the client said that he will not pay this amount and the final Invoice amount was fixed at GBP 12000. This invoice was sent in two parts. One from ABC Pvt Ltd GBP 9000 and one from ABC UK GBP 3000. Now, the invoice from ABC UK of GBP 3000 is to be cancelled and New invoice from ABC Pvt Ltd of GBP 3000 is to be sent.
The client has told me to issue credit note for the earlier invoice raised i.e of GBP 15000.
How this is to be accounted? Meanwhile, we have received GBP 3000 from them against these.
CAclubindia
