Credit note & debit note

A/c entries 696 views 1 replies

could you plz tell me when a company should raise debit note and credit note and their meanings..

Replies (1)

When the purchaser returns the goods to the seller the Purchaser sends a Debit Note to the seller (ie. the purchaser debits the seller in his books ie. Purchasers Books) and the Seller sends a Credit Note to the purchaser (ie. the seller credits the Purchaser in his Books ie. Sellers Books). 

Read more at: /forum/what-is-debit-note-and-credit-note--142660.asp


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