What is Debit Memo & Credit Memo in Payables?
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Answer Posted / balamurali
Debit Note:When a firm returns some goods to its
suppliers,it prepares a debit note and sends it along wih
goods returned.
Credit Note: Credit note nothing but Credit Memo. It is a
document used to adjust or rectify errors made in a sales
invoice, which has already been processed and sent to a
customer.
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