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what is the difference between credit and debit note?
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Answer Posted / dinesh upadhyay
A Credit Note or Credit Memo is a document used to adjust
or rectify errors made in a sales invoice which has already
been processed and sent to a customer. If you have already
sent an invoice to a customer but now need to provide a
credit for that invoice, you would send them a Credit Note
or Credit Memo.
A Debit note is a document used to adjust or rectify errors
made in purchase invoice which has already been processed
and sent to supplier. if you have alreadty sent an invoice
to a supplier but now sent to provide a debit for that
invoice,
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