Interested to Buy Any Domain ? << Click Here >> for more details...
what is the journal entries of a debit/credit notes in the
books of seller and purchaser's A/C.
- 8 Answers
- 74892 Views
- Accenture, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / rajinder dhawan
Credit Note: Seller
( E.g) When we give any discount or sale return )
Discount Allowed/Sale Return xxxx ( Dr)
to Party Account xxxxx ( Cr)
Debit Note : Purchaser
( E.g When he received discount / purchase retrun to seller)
Party Account xxxxxx ( Dr)
to Discount Received/Purchase retunr xxxxx( Cr)
| Is This Answer Correct ? | 122 Yes | 13 No |
Answer / rdiyewar
IN THE BOOKS OF SELLER :-
debit note :-
by party a/c debit ----xxx
to sales a/c--------------xxx
to vat a/c---------------xxx
credit note:-
BY SALES A/C debit -----XXX
BY VAT A/C DEBIT -----XXX
TO PARTY A/C CR--------------XXX
in the books of purchaser the journal entry opposite
| Is This Answer Correct ? | 97 Yes | 30 No |
Answer / sridharan.v
IN THE BOOKS OF SELLER :-
Debitnote :-
party a/c Dr xxx
To sales a/c xxx
To vat a/c xxx
(Vat payable)
Creditnote:-
Sales A/C Dr XXX
VatA/C Dr XXX
(Vat Receivable)
TO partyA/C XXX
(Inthe books of purchaser the journal entry is just
opposite to the seller)
| Is This Answer Correct ? | 33 Yes | 6 No |
Answer / aslam
Credit note:
Debit Sales a/c
and Credit party's a/c
Debit note:
Debit party's a/c
And Credit the sales a/c
| Is This Answer Correct ? | 28 Yes | 11 No |
Answer / jitendra b jagtap
1) This debit not entry purchas account debit and vat
accounts credit. this entry in debit side.
2)This credit not entry seller account credit and vat
account debit entry.
| Is This Answer Correct ? | 22 Yes | 5 No |
Answer / revanth
debit note will issue when purchase returns
hence
party A/c (creditor) debit
to purchase returns A/c
credit note will issue when sales return hence
sales returns A/c debit
party a/c (debtor)
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / kuldeep
debit note books of seller.
party a/c dr.
to Exps. a/c
| Is This Answer Correct ? | 25 Yes | 30 No |
Expand ------BPS
Please send me full details of MIS report how to prepare which item to be consider in MIS report? 2) full details of Esic, PF and Fbt and maharashtra labour welfare fund
balance sheet means what?i hav to make 1 software in tat i hav to convert accounts data to tally balance sheet format?
what is Rectification of errors?
what are the customization u have done in sap mm
Which document should be attached with purchse & sales invoice?
Does the Summary Income and Expenditure account in the Charities SORP comply with the Companies Act 1985?
what is F B T?
What type of report and accounts should a company prepare?
how many category of valuation of shares?
Expand ________EDT
What is Summarising
Audit 
