tally

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

rajesh

rajesh (Querist)

30 October 2010 define credit&debit note in tally,
i mean what are the entries passed in debit note & credit note

CA Ankit Shah

CA Ankit Shah (Expert)

30 October 2010 CREDIT NOTE: Provided to you by ur creditor, it amount to income, you have to pay less to creditor. CREDIT NOTE made by creditor and you have to make debit side entry to creditor account.

REVERSE FOR DEBIT NOTE

Credit note to be consider as Income and Debit note to be consider as Expense.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

30 October 2010 Credit note is issued by supplier in respect of Purchaser account has been credited in books, whereas debit note is a note issued by purchaser to supplier in respect of supplier
Account has been debited in books.

IN THE BOOKS OF SELLER:-

Debit note:-

By party a/c debit ----xxx
To sales a/c--------------xxx
To vat a/c---------------xxx

Credit note:-

BY SALES A/C Debit -----XXX
BY VAT A/C Debit -----XXX
TO PARTY A/C CR--------------XXX
(in the books of purchaser the journal entry opposite)

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

30 October 2010 for elobration please click the below mentioed path:-

https://www.mastchulbule.com/learning-tally-accounting/debit-note-and-credit-note-voucher-entries-in-tally-9-video_a649525f3.html

Message likes : 1 times

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