Tagastusarved

Tagastusarved, often translated as credit notes or credit memos, are financial documents issued by a seller to a buyer. They serve to reduce the amount owed by the buyer to the seller. This typically occurs when a buyer returns goods previously purchased, or when an invoice contains an error that resulted in the buyer being overcharged.

A tagastusarve details the original transaction, the reason for the credit, and the specific items or services being credited. It will include the original invoice number for reference, the date of issue, and the name and address of both the seller and the buyer. The value of the credit is clearly stated, and it can be used to offset future purchases or, in some cases, be refunded directly to the buyer.

The issuance of a tagastusarve is an important accounting practice. It allows for accurate record-keeping and ensures that both parties have a clear understanding of the financial adjustments being made. For the seller, it reflects a reduction in sales revenue. For the buyer, it represents a reduction in accounts payable or an increase in accounts receivable if a refund is due. These documents are crucial for maintaining balanced financial statements and for tax purposes.