Dr. or cr. note

This query is : Resolved

Share Report Follow Query Ask a Query

gourav singhal

gourav singhal (Querist)
Follow

23 March 2012 what is dr. or cr. note? does always seller sent cr. note?

Sandeep Bihani

Sandeep Bihani (Expert)
Follow

25 March 2012 yes, seller always sent credit note to buyer.

Credit Note:
A form or letter sent by a seller to a buyer, stating that a certain amount has been credited to the buyer's account.
A credit note is issued in various situations to correct a mistake, such as when (1) an invoice amount is overstated, (2) correct discount rate is not applied, (3) goods spoil within guaranty period, or (4) they do not meet the buyer's specifications and are returned. Also called credit memo.

Debit note:
A document used by a purchaser to inform a vendor of the quantity and dollar amount of goods being returned, and requesting that the dollar amount be returned to the purchaser. A debit note is often used to return goods on credit. The vendor then issues a credit note to the purchaser indicating that the goods have been received, and that the purchaser will not have to pay for them.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Shantaveeresh Manur

AJAY Kumar Agrawal

RATI MALU

ASHOK KUMAR TEKURU

RISHI LATTA

Subscribe Now

Dr. or cr. note

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

CA Final

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

Accountant