Interested to Buy Any Domain ? << Click Here >> for more details...
what is the difference between credit and debit note?
- 55 Answers
- 205074 Views
- Accenture, FMCG, Private, Redson, TATA, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / muhammad ismail
Debit note means when we purchase some thing ,so we debit that party,and when we sell some thing so we credit that party.
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / raj
CREDIT NOTE IS A SALES RETURNS"
DEBIT NOTE IS A PURCHASE RETURNS"
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / s.v.bhaskar
SIMPLE ANSWER:
DEBIT NOTE IS "PURCHASE RETURNS"
EXP:AtoZ GEN STR. Purchased some material from XYZ STRS through transport then material received after verification of the weightless and packing the goods is some small damages.Hence the goods returned to XYZ STRS., and raised the DEBIT note(some above reasons).
i.e., ENTRY IS 1.AtoZ GEN.STR(PURCHASE A/C.) DR.
To XYZ STRS CR
(BEING MATERIAL PURCHASE MADE)
2.XYZ STRS (PUR. RETURNS A/C.) DR
To AtoZ str(PURCHASE A/C.) CR.
(BEING MATERIAL RETURNED)
CREDIT NOTE IS SALES RETURNS:
EXP:AtoZ GEN STR. material sale to S.V.BHASKAR through transport then material received after verification of the Mmaterial weightless and packing the goods is some small damages.Hence the goods returned to the AtoZ STRS., and seller(AtoZ) give the discount offer and decreased the invoice amount and raised the CREDIT note(some above reasons).
that is called CREDIT NOTE.
i.e., ENTRY IS 1.S.V.BHASKAR A/C. DR.
To AtoZ GEN STRS CR
(BEING SALE OF MATERIAL )
2.AtoZ GEN STRS A/C.) DR
To S.V.BHASKAR (SALES RETURNS) CR.
(BEING CREDIT NOTE RAISED FOR DISCOUNT AMOUNT OR MATERIAL AMOUNT DECREASED)
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / roshan
credit note means sales return means this note issued by
the customer to the seller
debit note means pirchase return means this note issued by
seller to the supplyer
| Is This Answer Correct ? | 8 Yes | 14 No |
Answer / sriramamurthy
credit means the deposited money taken from the card
so that is the credit card.
In contrast with credit card this is exactly opposite.
So clearly ur bank pay money according to usage
after that u should pay the money to that Bank according
to the conditions.
Are u satisfied with that answer.
| Is This Answer Correct ? | 91 Yes | 341 No |
How many types of Purchase Orders?
8 Answers DigiHome, Genpact, Mulpuri Group, Richa,
What are write off entries to be passed say if im having payable of Rs. 400 standing in the balance sheet and I want to write it off...
kindly given the example of contingent liabilities.
WHAT IS VOSTRO Account?
What are Corporate Action?
what is the meaning and abservation of EBITDA
what is goods in transit and how to pass an entry
What is meant by Salaries Outstanding Accounts?
Why we have to present first and second draft(Bill of Exchange) for bank negotiation.Why cant we present only One draft?
is there any difference between salary payable and outstanding salary??
Dividend per share?
WHAT DO U MEAN BY REPO RATE???
18 Answers LN, Punjab National Bank, State Bank Of India SBI,
Audit 
