Answer / amit kumar tiwari

Credit Note- or credit memorandum (memo) is a commercial
document issued by a seller to a buyer. The seller usually
issues a Credit Memo for the same or lower amount than the
invoice, and then repays the money to the buyer or sets it
off against a balance due from other transactions.


Debit Note- proves that a debit entry has been made to a
debtor's or creditor's account. A customer or supplier can
be debited for variety of reasons such as purchase return,
wrong quantity or quality of product, rate difference,
discount, commission, etc.
When goods are returned to the supplier, a Debit Note is
made out of his name. But if you want to record the stock
also (in case of Purchase Return) then you must
enter 'Purchase Return' voucher 'Purchase'.
For rest of the cases (where stock is not affected) you can
prepare a Debit Note.

Debit Note
Sohan Account Dr. 5000.00
To Purchase Return Account 5000.00
(Being goods return to sohan as per debit note No………….)

Credit Note
Sales Return Account Dr. 20000
To viky 2000.00
(We receive our soled good as per credit note and enter in
credit)

Answer / hussain

debit note means when we made purchase return on that we
shows the debit note this is called as debit note. credi
note meanswhen we made sales retun on that we shows the
credit note jornal entries credit note

Have you ever heard about tds, what it is?

0 Answers  

---

We have purchased some good from our vendor and we asked them to transport the same to some address but they have raised a debit note to us for transportation instead of invoice. Same like we have given some order to manufacture for developing that product they have charged some amount for that also they have raised the debit note. How to account these type of debit notes in tally..?

0 Answers  

---

can any body tell me the procedure to learn accountancy with easy tips.i.e., layman accounting policy and rules of debit and credit.

0 Answers  

---

what is the primary of for-profit organisation

0 Answers  

---

what is the different between nominal account and real account ? and then personal account ?

2 Answers  

---

What is the goodwill, how it will be calculeted.can Goodwill posted on laibiltes side Balance sheet.

9 Answers  

---

Sir how the enter of GST adjust of sales return

0 Answers  

---

gold purchse

1 Answers  

---

If a transaction was missed completly how do you find it?

0 Answers  

---

what are fund flow statements

1 Answers  

---

what is branch reconciliation?what is the Procedure of Branch reconcile step by step?

2 Answers   HCL, HPCL, Treebo Hotels,

---

Please tell me what is the journal entry of closing balance ?

2 Answers   IBM,

---