Credit note , Debit note

What is the difference between Credit note and Debit note?

2 Answer(s)


When a purchaser returns goods to the seller , purchaser sends a debit note to the seller and seller sends a credit note to the purchaser


Credit Note is a document issued to a party stating that you are crediting their Account in your Books of Accounts for the stated reason or vise versa. It is commonly used in case of Sales Returns, Escalation/De-escalation in price etc.

A Credit Note can be entered in voucher or Invoice mode.


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