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what is debit memo and credit memo in AR?
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Answer / narasimha gaddam
Debit mememo and credit memo are transaction types in
AR.Debit memo is created when we charged the customer less
amount instead of charging correct amount, in that case we
crate the the debit memo with short fall amount.
Credit memo is exactly oppsite to debit memo. this is
created when we chareged more amount insteted of correct
amount. in that case we create the credit memo with
diffential amount. Credit memo will be created with
negetive amount. Credit memos are two types. one is credit
memo against specific transaction and the other one is on
account type.
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