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what is the difference between credit memo and debit memo?...
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Answer Posted / piyush
Debit and credit Memo
Debit Memo:-. A transaction that reduces Amounts Receivable
from a customer is a credit memo. For eg. The customer
could return damaged goods. A debit memo is a transaction
that reduces Amounts Payable to a vendor because, you send
damaged goods back to your vendor.
Credit memo:-A request is a sales document used in
complaints processing to request a credit memo for a
customer. If the price calculated for the customer is too
high, for example, because the wrong scale prices were used
or a discount was forgotten, you can create a credit memo
request. The credit memo request is blocked for further
processing so that it can be checked. If the request is
approved, you can remove the block. The system uses the
credit memo request to create a credit memo
| Is This Answer Correct ? | 4 Yes | 3 No |
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