KEY TERMS Credit note - A record issued to a customer confirming that they no longer owe money for certain items, perhaps because goods have been returned. Receivables ledger - A ledger containing accounts for each individual credit customer/trade receivable. Settlement discount - A discount for early payment of an invoice. Tax point - The date on which a transaction is deemed to have taken place for sales tax purposes. Trade discount - A discount on the price of goods or services, agreed in advance (and often granted to regular customers or for bulk purchases). Sales invoice - A record of the fact that a customer owes money for the goods or services provided.