Credit Note Journal Entries

The customer credit note journal entries below act as a quick reference, and set out the most commonly encountered situations when dealing with the double entry posting of credit notes.

In each case the credit note journal entries show the debit and credit account together with a brief narrative. For a fuller explanation of journal entries, view our examples section.

Typical Credit Note Journal Entries


Credit note issued to amend invoice before payment
Account Debit Credit
Revenue XXX
Accounts receivable (against invoice) XXX

Credit note issued against goods returned by customer
Account Debit Credit
Revenue XXX
Accounts receivable XXX

Credit note issued for discount allowed
Account Debit Credit
Discount allowed XXX
Accounts receivable XXX

Cash refund of credit note for discount allowed
Account Debit Credit
Accounts receivable (against credit note) XXX
Cash XXX

Credit Note Journal Entries November 6th, 2016Team

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