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sarahtaylor93's avatar
sarahtaylor93
Experienced User
1 year ago
Solved

Old Unused Credit Note

Hello, I have an old credit note that is still showing as open and I would like to close it out as it will not be used.   As it dates back a few years what is the best way to do this? 
credit note
  • Shella_A's avatar
    Shella_A
    1 year ago

    Hi sarahtaylor93,

     

    To close out an old, unused credit note in MYOB, you can follow these steps:

     

    • Locate the Credit Note: Go to the Sales or Purchases command center, depending on whether the credit note is for a customer or supplier.
    • Apply the Credit: Find the credit note and apply it to an outstanding invoice if there is one. This will close out the credit note.
    • Write Off the Credit: If there are no outstanding invoices to apply the credit to, you can write it off. Create a journal entry to debit the credit note amount from the relevant account and credit the same amount to a write-off account.

    If you need more detailed instructions, you can refer to this link.

     

     

    Regards,

    Shella

Shella_A's avatar
Shella_A
MYOB Moderator
1 year ago

Hi sarahtaylor93,

 

To close out an old, unused credit note in MYOB, you can follow these steps:

 

  • Locate the Credit Note: Go to the Sales or Purchases command center, depending on whether the credit note is for a customer or supplier.
  • Apply the Credit: Find the credit note and apply it to an outstanding invoice if there is one. This will close out the credit note.
  • Write Off the Credit: If there are no outstanding invoices to apply the credit to, you can write it off. Create a journal entry to debit the credit note amount from the relevant account and credit the same amount to a write-off account.

If you need more detailed instructions, you can refer to this link.

 

 

Regards,

Shella

sarahtaylor93's avatar
sarahtaylor93
Experienced User
1 year ago

Thanks Shella, there is no invoice to apply the credit note to so I have done a journal entry, is there anyway to stop the credit note from appearing though?

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    1 year ago

    Hi sarahtaylor93,

     

    Generally, if you manually create a credit note to use on the next invoice or to process a refund, you can delete it if you need to. But if the credit note comes from reversing an existing sale, there's no way to delete it. You can just change the filter date to keep it from showing up in your list of transactions.

     

    Cheers,

    Princess

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