UK VAT Credit Note is an excel template that helps to issue a VAT compliant credit note when the goods are returned or an invoice is overbilled.
A Credit note is a document that supplier issues to their customer for a reduction in invoice or discount in the price on the original VAT invoice. Goods return or reduction in billing amount reduces tax liability as the goods or services supplied have been reduced by the amount.
We have created a simple UK VAT Credit Note Excel Template with predefine formulas and formatting. Issue a VAT compliant credit note to your customer in a few minutes.
Contents of UK VAT Credit Note Excel Template
This template has 2 sheets: UK VAT Credit Note Template and Customer Database Sheet.
Customer Database Sheet
The customer database sheet consists of customer details as customer id, customer name, customer address, customer phone, Customer VAT number, and customer email address.
The purpose of creating this sheet to save time and simplify your work. You need to update the database sheet once with the customer details as per requirement.
Furthermore, a drop-down is created using the data validation function. When you select the customer name, the customer section fetches all relevant details using VLOOKUP function.
UK VAT Credit Note Template
Credit Note Template consists of 4 sections: Supplier Details, Customer Details, Credit Note Details, and Other Detail.
Supplier Detail
Supplier Details Section consists of the company name, logo, address and VAT number.
Customer Detail
Customer detail section consists of the following details:
Company Name
Street Address
Phone
Email
VAT Number
Credit Note Number
Date
Customer ID
Invoice Number
As already discussed, this section is interlink with data validation and the VLOOKUP function to the database sheet. Just select the name of customer and this section is filled automatically.
Credit Note Details
Insert the details of goods return or overbilling. This section consists of columns that are Description, Quantity, Unit Price and Amount. In the end, there is subtotal line.
Quantity X Unit Price = Amount.
Other Detail
Other details section consists following:
Also, Amount in words: It automatically convert the amount in words using Spell Number GBP.
Terms & Conditions: Insert your credit note with terms and conditions.
VAT computation: So, Insert the VAT percentage manually. The VAT amount is calculate on the percentage.
Taxable Amount X VAT % = VAT Amount
VAT Amount + Taxable Amount = Final Invoice Amount
Company seal: Moreover, After printing invoice you can stamp the invoice with a company seal.
Signature: Sign the invoice after printing the invoice by authorize personnel.
Thank You Note: Insert a thank you note of your choice here.
So, your VAT Compliant Credit Note is ready to print. It is helpful to small and medium scale businesses to issue a credit note.
