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Alternatively, it can be automatically generated from the related invoice, which serves as the reference for the credit note. All the details must be automatically filled in.

Main Tab

The Main Tab captures the essential details that identify and control how the credit note is processed.

• Company Name - The company for whom the invoice is being created

• Contract - Refers to the agreement associated with the transaction.
• Emirate - Indicates the emirate where the transaction was carried out.
• Customer Order - Represents the client’s order linked to this credit note.
• Project - Specifies the project or job connected to the transaction.
• Apply Retention / Ret. VAT at Retention Invoice - Indicates if retention should be applied (as defined in the contract) and specifies how VAT is handled for retention-related invoices
• Progressive / Advance Invoice - Indicates whether the credit note is linked to progressive billing or related to a previously issued advance invoice.
• Comment - A field used for entering internal comments or notes.

• Transaction Type

  - Describes

  describes the

  nature

  kind of

  the credit transaction

  credit note being created. For adjusting progressive invoices, you can use:

  • Goods Return: Used when physical items or materials are being returned. This affects inventory and contract assets.

  • Invoice Correction: Used when correcting amounts or quantities without returning items, such as fixing errors or updating values. This mainly affects financial records, not inventory.

• Basis - Indicates the original invoice that the credit note is reversing.
• Date of Original Supply - The date when the original goods or services were provided.
• Entity Name - The entity issuing the invoice
• Warehouse - The location of the inventory involved, if applicable.

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