Interested to Buy Any Domain ? << Click Here >> for more details...
what is debit note entry ?
- 4 Answers
- 25975 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / raghunath
We place the order to supplier to supply the goods on the
basis of Credit Purchase. due to this supplier send the
goods to us by Transport. We received the consignment and
found some difficulties that wrongly despatched unwanted
goods and broken like that. in this circumstances we
returned the damaged/unwanted goods to supplier along with
Debit Note. Debit Note amount represents fully or partly
depends upon the returned goods value.
Example: We purchase the goods on credit basis, asper
invoice. value Rs.5200/- including 4% Vat(5000*4%) and then
we return the goods to supplier value of Rs.2000/-. We
pass the necessery entry in our books.
Purchase Entry:
Purchase A/c Dr 5000.00
input Vat A/c Dr 200.00
Supplier A/c Cr 5200.00
Debit Note Entry:
Supplier A/c Dr.2080.00
Purchase Return. A/c cr. 2000.00
Input Vat A/c cr. 80.00
| Is This Answer Correct ? | 47 Yes | 8 No |
Answer / rajesh
When we purchase the goods we will credit the party. Same
when we return the purchase materials to the party we will
give the debit note.
1)Purchase entry
Cr XXX 1000
DR Purchse 1000
2) Debit note Enry
Dr XXX 300
CR Purchase 300
| Is This Answer Correct ? | 41 Yes | 9 No |
Debit note entry will be passed to reduce the due amount
which happend thru credit purchase of materials or goods.
By passing debit note entry means reducing the due as well
as purchase value of the materials
| Is This Answer Correct ? | 21 Yes | 3 No |
Answer / thomas
Purchase Entry:
DR Inventory = 5400
CR Supplier = 5400
Debit Note Entry:
Dr Supplier = 2080
CR Inventory = 2080
| Is This Answer Correct ? | 2 Yes | 1 No |
Please tell me the process of Selction of Junior Research Associate in Capitaliq(Intervie rounds&written test)
.,can someone tell me how to compute the subscribed capital share?
What is BRS? What is the use of BRS
Expand---------BPCD
What type of report and accounts should a company prepare?
what is the difference between Purchase order and invoice
A company staff's visa procedure's expenes are treated as indirect expense or not. please give the journal entry and tally posting.
what is the advantages of double entry system
what is the mean of trail blance sheet
I have scooter , and its insurance expired for the past 1 yrs and i need to renew it ? how to , explain?
Expand ________ACCB
While selling fertilisers can we charge VAT on excise duty.
Audit 
