Explain the exact meaning of debit note and credit note in
the case of hospital business mainly in case of billing?
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Answer Posted / amit kumar tiwari
Debit Note is a letter which the buyer issues to the
supplier in the condition of return of goods.
A credit note or credit memorandum (memo) is a commercial
document issued by a seller to a buyer. The seller usually
issues a Credit Memo for the same or lower amount than the
invoice, and then repays the money to the buyer or sets it
off against a balance due from other transactions.
It can also be a document from a bank to a depositor to
indicate the depositor's balance is being increased because
of an event other than a deposit, such as the collection by
the bank of the depositor's note receivable.
Ram lal & Co. Purchase 10 Books@100=1000 from Delhi Book
store. 2 books are printing not good so ram lal return 2
Books to Delhi Book store ram lal issue debit note to Delhi
Book Store and Delhi Book store will give credit against
supply
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