Icelandic Tax Regulations of Conditional Discounts

In Iceland, it is a legal requirement to issue a credit memo if a conditional discount has been given.

The local tax regulation of conditional discounts feature enables you to issue a credit memo if a conditional discount is given to a customer. The payment for a conditional discount must be made within a specified period.

On the Sales and Receivables Setup form, a field has been added for number series for credit invoices. A new field has also been added in the Customer Ledger Entry table to link the appropriate entries to a credit invoice.

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