Commercial
MRA Credit Note Rules: 5 Common Mistakes
Avoid these 5 common credit note mistakes that trigger MRA penalties
Credit notes are one of the most heavily regulated areas of MRA e-invoicing. Here are 5 common mistakes.
Mistake 1: Issuing without a reason
Every credit note must have a reason. The MRA requires this and your EBS should block credit notes without one.
Mistake 2: Issuing without referencing the original invoice
Every credit note must reference the original invoice. The MRA requires this and your EBS should block credit notes without a reference.
Mistake 3: Issuing a credit note for a fiscalised invoice but forgetting to fiscalise the credit note
Credit notes must also be fiscalised with the MRA. They get their own IRN.
Mistake 4: Breaking the hash chain
Credit notes are part of the hash chain. They must be inserted correctly to maintain chain integrity.
Mistake 5: Issuing a credit note for a non-fiscalised invoice
If the original invoice was never fiscalised, the credit note cannot be fiscalised either. Resolve the original invoice first.