Taxes & Invoicing

What is a credit note?

A credit note is a form or letter sent by a seller to a buyer, stating that a certain amount has been credited to the buyer's account. A credit note is issued in various situations to correct a mistake, such as when (1) an invoice amount is overstated, (2) a correct discount rate is not applied, (3) goods spoiled within a guaranty period, or (4) they do not meet the buyer's specifications and are returned. Credit notes are important for your accounting to make sure there is a legal record of any refund.

You are solely responsible for determining what, if any, taxes apply to your particular business. Octobat may provide some general information about taxes and other requirements, but we cannot and do not provide legal, tax or business advice. If you have questions or are unsure about the requirements for your business, we strongly encourage you to seek out the advice of relevant professionals who advise based upon your precise circumstances.