What is Debit Memo & Credit Memo in Payables?
Answer Posted / babitha
Debit memo and credit memo are used in payables to reduce
the supplier balance when ever goods are returned.
Credit Memo is send by the supplier to reduce his
liabilites.
Debit Memo is created by the purchasing organization when
ever supplier does not send credit memo for purchases
returns.
Debit memo and Credit memo matched to Purchased invoice
(standard invoice)
Is This Answer Correct ? | 2 Yes | 1 No |
Post New Answer View All Answers
I have created an invoice and made the payment in Accounts payable. Now the payment status is Negotiable and accounting status is processed. I reconciled the transaction in Cash Mgmt, The status changed from negotiable to Reconciled in CM. I checked the payment status for the invoice in payment window(AP), the payment status changed to RECONCILED UNACCOUNTED i.e correct but the accounting status is remain processed which is not the correct. I hope the transaction will be correct if the accounting status would have changed to PERTIAL . Please suggest any solution for the above query.
What is the use of hr: user type, while configure multiorg?
Can Adjustments be imported?
what is the use of hr: security profile, while configure multiorg?
How to support projects life cycles details?
What is Difference between Auto Copy Journal and recurring journal?
What are the types of setups in apps inventory module
What do you mean by controlling buyers workload?
Define the activities of the Configuration Manager (AP,GL,FA) in the team. Give examples
Write Test Scripts for a telecummunication project on the basis of priority with some examples with regard to AP,GL,FA.
What do you mean by Category Set ? and what is its Relevance ?
While assigning the security by book in oracle assets..i am unable ot get the asset org in security profile form.This asset org was already defined in org description window.
difference between primary ledger and secondary ledger in r12
What is automation of accounts payable activities (evaluated receipt settlement)?
what is VAT claim process?