How do I issue a credit note in Aicountly Billing, and when do the goods go back into stock?

Open Credit note from the quick actions in Aicountly Billing, choose the customer, then pick the original bill. The lines of that bill are proposed for the note, and you choose a Reason and set the credit note date.

The reason proposes what the note does, and you can change it. Goods came back (also used for damaged or short goods and cancelled orders) means the items return to stock, and Inventory adds them back when the note is issued. Value adjustment only (used for a wrong rate or a discount agreed afterwards) means nothing returns to stock.

Press Issue credit note when done. Aicountly Smart Books allots the credit note number on the company's own series at that point, and your remarks go to Aicountly Smart Books as the narration. Under GST a credit note should be linked to the original invoice, so confirm the treatment for your case with your CA.