What is Debit Memo & Credit Memo in Payables?
Answer Posted / sanjeev sharma
Debit and credit memo both are negative in AP , both it
reduces the purchaser’s liability and vendor’s/suppliers
balance
The reasons for raising debit memo by
purchaser
Discount.
. Over billing.(Good Returns )
. Duplicate billing.
. Wrong invoicing.
. Over tax.
. Over freight.
:Above case we can issue debit memo or we can take Credit
memo from Supplier ,
Supplier Debit Memo we will treate like standard invoice
Is This Answer Correct ? | 19 Yes | 4 No |
Post New Answer View All Answers
Recurring Problem Posting i have Journals for sep 2018 that i approved but they are not available to post even though the period is open in Oracle R12 Issues
What is gap analysis, how do you defined?
how service tax work.
I am working on PPR process to print checks. Currently the checks are printing for each supplier, supplier site and payment method group. My requirement is the invoice level one DFF is available (like A and B are the input values). Please let me know how include this DFF at invoice grouping level.
difference between tds and income tax (India)
Define the activities of the Configuration Manager (AP,GL,FA) in the team. Give examples
What kind of budgets have you worked on?
How will account an advance of Rs.10000/- which is a permanent prepayment, can I make payment for this?
Please post the setups required to approve the payable invoice in AP.
payment types and payment methods.
On what different real time issues you worked while doing P2P cycle implementation?
What is meant RD020
How to Reconciliation AP to CM ? How to Reconciliation AR to CM ?
Give examples & explain the below mentioned activity. "Analyzing the documents provided by the client and thereby identifying the test cases to be tested for the application assigned (FA, AP and GL)"
How do u bridge the gaps in functional understanding of AP,GL,FA. explain with some live examples.