Debit And Credit Note
This query is : Resolved
27 December 2008
Pls help me in my difficulty,
I want to know what is the treatement of Debit And Credit note in the accounting system?
When debit and credit note is being sent
ans by whom it is being sent?
If u have a example regarding said difficulty pls explained it by way of
accounting entry?
And what is the entry of Debit and Credit note in the books of account?
Pls help me.................
I want to know what is the treatement of Debit And Credit note in the accounting system?
When debit and credit note is being sent
ans by whom it is being sent?
If u have a example regarding said difficulty pls explained it by way of
accounting entry?
And what is the entry of Debit and Credit note in the books of account?
Pls help me.................
27 December 2008
Debit Note: Debit notes are sent to your supplier by you when you will return some purchased goods/material. Accounting Entry:
Supplier Account Dr.
To Purchase or Purchase return account.
Supplier Account Dr.
To Purchase or Purchase return account.
Message likes :
1 times
27 December 2008
Credit Notes: Credit notes are issued by you to your customers for any goods returned by them or any after sale discount/rebate/commission. Accounting Entry:
Sales or Sales Return or Rebate and discount or commission account Dr.
To Customer A/c
Sales or Sales Return or Rebate and discount or commission account Dr.
To Customer A/c
Message likes :
1 times
27 December 2008
DR NOTES / CR NOTES SENT IN CASE OF SALES / PURCHASE RETURNS OR ALSO IN CASE OF SOME TYPE OF NON PURCHASE / SALES PAYMENTS TO BE RECD / MADE EX. COMMISSION ETC.
ACCOUNTING ENTRIES IN CASE OF DEBIT NOTE SIMILAR TO PURCHASE JV & CR NOTE LIKE SALES JV
ACCOUNTING ENTRIES IN CASE OF DEBIT NOTE SIMILAR TO PURCHASE JV & CR NOTE LIKE SALES JV
04 February 2009
thank u very much sir for solving my query.
27 August 2010
Debit Note is to supplier
Credit Note is to customer.
Not sure why this query is still open. If your doubt is still not cleared, please revert.
Credit Note is to customer.
Not sure why this query is still open. If your doubt is still not cleared, please revert.
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