Double-entry bookkeeping 2: books of prime entry, accounting systems
. Credit notes represent positive sales.

. Sales invoices are only produced for sales of goods and services made on credit.

. Credit notes show the total amount (sales value + sales taxes) that is no longer owed by a customer

. Cash received represents the value of sales made in an accounting period.

. Sales invoices represent sales revenue earned + sales taxes.

. When businesses make a cash sale there is no need to raise a sales invoice

. Credit notes record the cash received from customers for invoices paid.

. A cash refund is all that is required to cancel a cash sale.

. The total amount owed by both cash and credit customers is made up of the sales value of goods and services supplied plus any sales taxes.

. Credit notes represent sales revenue earned + sales taxes.