Credit Note Format in Excel

A credit note is a note or document issued by the seller in case of a return of goods or services. The buyer who receives the credit note uses it to make another purchase from the same seller. Instead of returning cash, sellers typically issue a credit note to make sure the sale is not lost. Credit note format is a pre-designed template that helps businesses to issue a credit note in less time. They can create a credit note template using MS Word or MS Excel. This article discusses creating a credit note format in Excel with free-to-download samples.

A credit note format in Excel is a template with all the required fields to enter the necessary information to create a credit note. Whenever a seller wants to generate a credit note, he can simply use the template, enter the necessary details, take a print and hand it over to the buyer.

Credit Note Format in Excel – Fields to Include

The following is a list of the fields to create in a credit note format in Excel:

1. Header – Credit Note & Date
2. Seller’s Company name, logo, Address, and contact details
3. Buyer’s name, address and contact information
4. Date of issue
5. A unique reference number to track the credit notes
6. Amount credited
7. Tax details, including GST and others
8. Signature of the authorised personnel and date of issue of the credit note

Sample Credit Note Format in Excel

A sample credit note format in Excel is here for free download. You can use this sample credit note directly by making a copy of it. Make a copy of the credit note format, fill in the required details, save it with a different name and use it either as a print or a soft copy.

Sample Credit Note Format in Excel

Steps to Create Credit Note Format in Excel

If you want to create a credit note template in Excel on your own, you can follow the steps mentioned here.

1. Open a new Excel workbook
2. Create a table with the required columns like buyer name, seller name, reference number, date, description, tax, amount, etc.
3. Depending on your business requirement, you can also add any additional fields.
4. Save the credit note as a new file.

Whenever you wish to create a credit note, make a copy of the saved template, enter the details in the empty fields, save it with a different name and use it.

Limitations of using Credit Note Format in Excel

Using credit note format in Excel requires you to manually enter each and every data point. Consequently, there are more chances of error. Also, Excel may not auto-populate all the numbers, like calculating taxes, adding discounts, etc. Further, tracking all the credit notes issued in Excel is again a manual process.

myBillBook Billing Software to Issue Credit Notes

A better alternative to creating credit notes in Excel is using billing or invoicing software like myBillBook. myBillBook is a cloud-based billing and accounting software that helps small and medium businesses generate invoices within a few clicks. Users can simply enter the information in the required fields, and the invoice will be ready in a few seconds. Not just credit notes, the billing software can generate debit notes, GST invoices, quotations, sales returns, delivery challans and the like.

FAQs on Credit Note Format in Excel