Debit note & credit note
This query is : Resolved
02 November 2009
Are debit notes & credit notes issued simultaneously i.e. if A has to take 1000 rs from B, he will issue a debit note to B. Will B also issue a credit note to A to complete the transaction?
then what will be the parallel entry in B a/c
then what will be the parallel entry in B a/c
02 November 2009
only debit not will be issue by A,if A has to take 1000 rs from B,
02 November 2009
Your understanding is correct. Every debit note should have a credit note of the other party so as to acknowledge the transaction.
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