Odoo 15 Accounting Module

Debit and credit notes are critical components of efficient accounting management. You can effortlessly manage Debit and Credit notes with the Accounting module.

Debit notes are important documents that are produced when things are returned for a variety of reasons, including damage to the goods or service concerns, among others. Odoo can help you manage these annoyances in your business. Maintaining a positive customer-to-business connection necessitates the management of debit notes. To use Debit Notes in Odoo15's Accounting module, navigate to the module's dashboard and pick Bills under the Vendor tab. As demonstrated below, the page with Bill listed will open up.

Odoo 15 Accounting Module (Debit Notes)

From here, you can generate, manage, and keep track of all of your bills. To use the Debit note function, choose a bill from the list or create a new one, and Bill's configuration page will appear, as shown below.

In the Reason column, you can type in the reason for the debit notice. The Utilize Specific Journal option allows you to use a specific Journal for the Debit Note. To see and choose from the Journals defined, click on the fields next to it. Simply type in the name of the new journal, and a Create and Edit button will appear, as seen below.

A tab for configuring a specific journal will appear.

From here, you can start a new specific journal. Save the configuration and, if necessary, add it to the Debit note. In the Debit Note Configuration section, select the Debit Note Date. After you've finished configuring the debit note, click the 'CREATE DEBIT NOTE BUTTON' to start creating it. Following the Debit Note setup, the Vendor Bill page will appear.
Click the Confirm button after adding the product to the 'Invoice Lines' tab below.

As demonstrated below, pressing the confirmation button will take you to the next stage or segment of the process.

From here, you can start a new specific journal. Save the configuration and, if necessary, add it to the Debit note.
In the Debit Note Configuration section, select the Debit Note Date. After you've finished configuring the debit note, click the 'CREATE DEBIT NOTE BUTTON' to start creating it. Following the Debit Note setup, the Vendor Bill page will appear. Click the Confirm button after adding the product to the 'Invoice Lines' tab below.

As demonstrated below, pressing the confirmation button will take you to the next stage or segment of the process.

The name of the Debit Note can be found in the Bill reference section. The name appears after the bill number, 'New Case.' To register a payment, click the REGISTER PAYMENT button. In Odoo, here is how you generate and customize Discount notes.

Odoo 15 Accounting Module (Credit Notes)

Credit Notes are brief documents that inform customers that a specific amount has been credited to their account. Credit Notes are issued as a result of an invoice error, a service rejection, damaged items or goods, or sending the incorrect items. Credit Notes, in this case, play a significant role in inefficient management.

In all of these scenarios, using and managing credit notes is simply using the Odoo 15 Accounting module. Go to your Accounting module to create a Credit Note or Credit Memo. Credit Notes can be found under the Customer tab on the Accounting module's dashboard; click on it to go to the Credit Notes section below.

All of the Credit Reports that have been created will be placed here for you to review and manage at any time. To make a new Credit Note, click the CREATE button, which is underlined in the figure above. As illustrated below, a configuration page will appear, allowing you to configure the Credit note directly from the client invoice.

The first step is to select the customer and enter the shipping address. By clicking the Add a line button after configuring the upper area of the invoice under the invoice tab, you may add the products. As seen below, select the product and add it to the invoice.

Choose the Journal and enter the Invoice Date, Due Date, and Delivery Address. You may check the Journal items in the Product tab, and you can have and add more information under the Other info tab. After you've finished configuring, click the CONFIRM button to double-check your work.

Note that the Files section will be immediately filled in with information about the product you selected. After you've completed the configuration, click the CREATE PAYMENT button, and the invoice will appear with the IN PAYMENT tag, as seen below.

Odoo 15 Accounting Module (Customer Invoice)

Directly from the Customer Invoice, you can create Credit Notes. To do so, navigate to the Customer Tab on the Accounting module's Dashboard and click the CREATE button to create a new invoice. Here you can customize the Invoice form. Fill in the information and add the product, then click CONFIRM.

Select ADD CREDIT NOTE from the drop-down menu. A settings tab will appear, as illustrated below, allowing you to customize the Credit note.

Partial Refund, Full Refund, Full Refund, and New Draft Invoice are the three credit methods available. When you choose Partial refund, the Draft credit note is created with the original invoice information already filled in. If you select Full Refund, the credit note will be validated and reconciled with the invoice automatically. When you choose Full Refund and New Draft Invoice, the credit note is automatically validated and reconciled with the invoice. The original or real invoice will be stored as a new Draft. You can even use a special Journal if necessary, similar to the Debit Note. In the 'Reason' area, write the reason for the credit note. Reversal Date can be set to either Specific or Journal entry date.

You can set and enter a custom date if you pick Specific, and if you select Journal entry date, it will be automatically updated in relation to the journal entry date if you select Journal entry date. After you've completed the configurations, click the REVERSE button to complete the procedure, and then click the CONFIRM button in the invoice configuration area below to confirm it.

As illustrated below, the final page for the complete procedure will appear.

After a final check, click the REGISTER PAYMENT button, and a setup tab for Register Payment will appear, as shown below.

All of the details will be filled in for you, and you may adjust the setup from here. After you've completed the configuration, click CREATE PAYMENT to save the forms.

Following that, the Credit note will be seen in the Sales Journal. Select Sales under the Journal portion of the Accounting module's Accounting tab from the Dashboard, as shown below.

This will take you to the Sales section, where you will see the newly created Credit Note in the list.

Having an effective credit and debit note management system is critical for maintaining the business's integrity and will greatly assist you in creating strong client relations.