why debit notes and credit notes are passed?

Answer Posted / izhar ullah m.com

hi dears
Debit note is a memo which tell us the purchase return,that
these are the damages.
we made some Purchases for business in that time some
dameges was happend for that we raise debit note to
supplier.

Credit note is related to sales return.
We sold some goods to the client,some goods return the
client because of some reasons for that client raise the
one bill its called credit note.

Is This Answer Correct ?    3 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

in which group under we will open donation and hamali weekly payment account or ledger

1595


What is the role oF Jr Financial Analyst ? And what are the General Questions Asked for this Profile For freshers ?

1440


what is the difference between speculation & investment?

1749


hdn Systems Pvt. Ltd., manufactures a consumer durable which passes through two processes M and N. From the following details prepare necessary process ledger accounts bringing out clearly the cost of the product at each stage. Process ‘M’ Process ‘N’ Materials (Rs.) 30,000 3,000 Labour (Rs.) 10,000 12,000 Overheads (Rs.) 7,000 8,600 Input (units) 20,000 17,500 Normal loss 10% 4% Scrap value of loss (per unit) Re. 1.00 Rs. 2.00 There is no opening or closing W-I-P or stock at processes. Final output from the process ‘N’ was 17,000 units

1674


Short answer on Allowances

1502






I WANT ACCOUNT ASSISTANCE INTERWIEV QUETION IN L&T

2069


In SAP FICO How many ways we are Procuring the assets in the Company?

2167


How good are you at Finance?

1657


what is the uniform public construction cost accounting act?

1594


MMT and MID payment how post in tally

973


what is crisil?what is the advantage of crisil rating?

3223


selling price = shs. 200, variable overhead-selling per unit= shs 80, variable production cost per unit = shs 60, fixed selling cost = 2,840,000. the production capacity of the project is 200,000 units. required P/V ratio, BEP and margin of safety

1612


Lets suppose X sold goods to Y on credit basis and after the due date is over Y could not make the payment due to Y became insolvent, so In X books he will show the uncollectible as Bad debts expense but in Y account under which account Y will show this while journalizing this transaction in his books of accounts?

621


how to work on CMA form in manufacturing compay as well as how to analysis working capital ?

1511


commisiion recieved journal entry and receipt required

1016