How to correct creditor showing debit balance due to purchase return[URGENT]
This query is : Resolved
Quick Summary
01 September 2021
One of my creditor is showing a debit balance to the amount of his debit note(purchase return). The payments are already paid in full and no bill are adjusted can anyone help me how to post it in tally. If possible give journal entries.
01 September 2021
If the buyer has raised a debit note for purchase return, then the supplier is required to raise a credit note in respect of the same.
The credit balance of the buyer in the books of the supplier can either be settled by payment or by adjusting against future sales.
The credit balance of the buyer in the books of the supplier can either be settled by payment or by adjusting against future sales.
26 September 2021
You have to pass Credit Notes (itemwise) in Tally to account for purchase return by supplier
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