Credit note , Debit note



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What is the difference between Credit note and Debit note?

2 Answer(s)


1

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

1

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.

Thanks!

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