Interested to Buy Any Domain ? << Click Here >> for more details...
What is Debit Memo & Credit Memo in Payables?
- 27 Answers
- 195089 Views
- Cognizant, HCL, IBM, TCS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / alok kumar jena
When goods are returned to vendor by the organisation,debit
note is prepared by the organisation.When goods are
returned by customer to the organisation, credit memo is
prepared by the organisation.
| Is This Answer Correct ? | 6 Yes | 6 No |
Answer / shamim ahmed
Sales
we as supplier Credit memo rs. 500 -ve to our customer for bonus amount.
customer receive -500 A/P
Purchases
we as customer Debit memo rs. 500 -ve to our supplier for defective goods.
supplier receive -500 A/R
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / che wamucho
debit memo= issued by the supplier to show the amount it
owes the customer after noticing it short-change the latter
credit memo= from the customer to the supplier
| Is This Answer Correct ? | 0 Yes | 3 No |
Answer / mohammad sarwar
Debit Memo prapared by supplier and cridet Memo raised by
Organiztion or firm to supplier.
| Is This Answer Correct ? | 0 Yes | 4 No |
Answer / gopi kanth
Debit memo is raised by supplier to us when we return goods
and Credit memo is raised by us towards supplier.There is
also mixed memo which is combination of noth debit and
credit memo
| Is This Answer Correct ? | 32 Yes | 101 No |
Answer / sita
In AP, both debit and credit memo are perform same task.
Debit memo raised by supplier to us and credit memo raised
by us to supplier saying we are due to him. both will be
mention in -ve amount
| Is This Answer Correct ? | 93 Yes | 177 No |
HI, once we create the standard invoice then we can get journal entry item expense a/c-dr to liability a.c then item it will reflect through inventory, but liability a/c . it will reflect from GL , it is possible .
What are register in India localisation?
While you are in implemenation what are the u issues faced? tell me what some issues?
What is pay date basis?
what is the meaning of purchase default and what are the types
What are the different Payments documents ?
explain your project plan with exam pal? i am preparing inter view .............
Briefly list the steps for foreign currency journals?
What are the types of setups in apps inventory module
Explain payment process profile?
Can any one explaine about implementation methods in oracle apps ? about Vannila and Bigbag implemantations ?
IS Automatic writeoff allowed for both over n under payments??
Oracle Apps Technical 
