Invoice, credit note and debit note

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2012 SIR
I WANT TO KNOW THAT WHAT IS INVOICE? IS THERE ANY DIFFERENCE BETWEEN INVOICE AND BILL AND WHAT IS CREDIT NOTE AND DEBIT NOTE?
I SHALL BE VERY THENKFUL FOR YOUR REVERT.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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13 September 2012 1. Invoice is a document for charging price/fees for goods sold ot services rendered.
Invoice and bil is one and the same thing. Invoice is a more formal word.

2. Debit note is issued when we have debited a party's account in our books.

3. A credit note is issued when we have credited a party's account in our books.

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