A promissory note is a financial instrument that contains a written promise by one party the note's issuer or maker to pay another party the note's payee a definite sum of money, either on demand or at a specified future date. A promissory note typically contains all the terms pertaining to the indebtedness, such as the principal amount, interest rate, maturity date, date and place of issuance, and issuer's signature. Although financial institutions may issue them see below , promissory notes are debt instruments that allow companies and individuals to get financing from a source other than a bank. This source can be an individual or a company willing to carry the note and provide the financing under the agreed-upon terms. In effect, anyone becomes a lender when he issues a promissory note. In terms of their legal enforceability, promissory notes lie somewhere between the informality of an IOU and the rigidity of a loan contract.
Net off sales invoice and credit note
My credit note expired - have I lost my money? | Money | The Guardian
The scammers may just have lit upon the perfect crime: They sit at computers safely overseas, hunting for their prey on social networks, and they rarely get caught. Steve G. Jones is a victim too: His name and photos were stolen to create the fake identities used in romance scams. In the U. The odds of recovering that money, the bureau notes, are very low. Some of the money scammed by international criminal networks even winds up in the hands of terrorist operations like Boko Haram, according to Interpol.
Back dating credit notes
It reduces the amount due to be paid by the customer, if the amount due is Nil then it allows further purchases in lieu of the credit note itself. A credit note is issued for the value of goods returned by the customer , it may be less than or equal to total amount of the order. Company-B seller issues a credit note for 10, in the name of Company-A buyer. This reduces the receivables of the seller by 10, and the buyer is only required to pay 90,
A Value-Added Tax VAT credit note is a document issued by a supplier to a customer to reflect a reduction in, or discount applied to, the price originally invoiced in respect of the goods or services supplied. It also enables your VAT registered customer to adjust the figures for the total VAT charged to them on their purchases. If you issue a credit note showing a lesser amount of VAT than is correct, you are liable for the deficiency. Next: When must a VAT credit note be issued? Published: 04 August Please rate how useful this page was to you Print this page.