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debit & credit notwe

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(Querist)
01 December 2008 Is there any entry done of debit & credit note if es then where?
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Deepak Agrawal

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Deepak Agrawal (Expert)
01 December 2008 Debit note & credit note entry is passed thru JV
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
02 December 2008 Credit Note is a memo issued to the opposite party giving details of sum credited to the party's account. For example Supplier will issue a Credit Note to its Customer for the goods returned by the customer. On the other hand, Debit Note gives the details of debits. Credit Note issued by one party(supplier in the above example) is a Debit Note issued by the other party(customer in the above example).
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