Debit. credit note


This query is : Resolved 

(Querist)
23 January 2014 please explain in detail about debit note and credit note. ??!

@VaibhavJ (Expert)
23 January 2014 Hi

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).


Thx


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