What is the difference between the credit memo and Debit memo?
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Answer Posted / rangamannar
Credit memo is used to reduce the customer balance (i.e) to
reduce the debit balance. discount allowed , sale return etc
are routed through credit memo. Upward price adjustment
w.r.t to sale invoice is routed through debit memo for customer
The reverse is for debit memo. (i.e) to reduce the suppliers
credit balance debit memo is used. Credit memo is used to
increase the purchase value of the bill out side the AP invoice
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