If you purchase goods and services on credit you need to receive a sales invoice. If any discrepancies or returns are corrected for a supplier invoice already received, you need to record the supplier credit note to correct or record the returns for the original supplier invoice.

- Source documents may vary in colour shape or size, etc. The examples shown are for a fictitious entity in South Africa to illustrate some basic principles. Other countries have very similar documents. Please check with your accountant or taxation authorities for professional advice.

You may receive supplier invoices from your creditors (suppliers). These supplier invoices may differ in shape, size and colour. If these documents were received for any services or goods, purchased or procured on credit and which is not your trading stock items, these invoices should be entered in the Input→Batch Entry menu option.

Before you can start to enter the supplier invoice, it is advisable to check that the entries (description of the service rendered or goods received, pricing and discounts) are correct. If you have issued any orders, you should also check that the items received, are received correctly before entering this supplier invoice in your purchase journal.

An example of a supplier invoice is as follows:

If you are registered for VAT/GST/Sales Tax, you also need to check whether the items on the invoice received may be claimed as Input VAT/GST/Sales Tax, if the supplier is also registered as a VAT/GST/Sales Tax vendor. You should note that this invoice must meet certain requirements and different percentages, may apply for the Input VAT/GST/Sales Tax for some items on the invoice. Other items may be excluded from VAT/GST/Sales Tax.

- Should the supplier invoice be received for trading stock items, this supplier invoice will be a supporting document for the purchase document, which you will create in the Input→Documents→Purchase menu option.

You may receive credit notes to correct any entries entered on a previous supplier invoices received from your creditors (suppliers). The supplier credit note looks and contains the same information as on the supplier invoice, and may differ in shape, size and colour form supplier to supplier. The amounts or a portion thereof, should be accurately calculated and the portion of discount and VAT (if applicable) on the credit note must be clearly indicated.

These credit notes are issued by your suppliers to correct or adjust supplier invoices for credit purchases, which is not your trading stock items and these credit notes should be entered in the Input→Batch Entry menu option.

- These credit notes may also be entered in the purchase journal, but if you have many supplier credit notes, you may create a creditor allowances journal or supplier credit note journal in the Setup→System Parameters→Batch Type menu option.

Before you can start to enter the supplier credit note, it is advisable to check that the entries (description of the service or goods received, pricing and discounts), are correct and that it will cancel, adjust or correct the entries or a portion thereof, as supplied on the original supplier invoice for which the credit note was received.

An example of a supplier credit note is as follows:

If you are registered for VAT/GST/Sales Tax, you also need to check whether the items on the invoice received, may be claimed as Input VAT/GST/Sales Tax if the supplier is also registered as a VAT/GST/Sales Tax vendor. You should note that this invoice must meet certain requirements and different percentages may apply for the Input VAT/GST/Sales Tax for some items on the invoice. Other items may be excluded from VAT/GST/Sales Tax.

- Should a credit note need to be issued for trading stock items or service stock items for which an invoice was already issued, you need to create this credit note in the Input→Documents→Supplier Returns menu option. In this case, TurboCASH will generate the printed source document, which you may hand or send to your creditor (supplier).