Menu
debit note and credit note
Debit notes are issued during purchase returns but can they debit notes be used to book purchases and expenditure. Is it the same with credit note to book income
Replies (2)
hi, according to my knowledge,debit notes can be used only for purchase returns and for any transaction which have effect of reducing creditor balance like discounts etc., debit notes cannot be used for booking expenditure and purchases,and same applies to credit notes
Credit notes are issued for sales returns to reduce the balances of debtors.
Recent Topics :
- TDS on Property Purchase Paid
- Cash Purchase Above ₹10,000, ITR/40A(3) Trea
- TDS on dividend to non resident shareholders
- Best CA Inter classes in Laxmi Nagar for Group 1?
- Gst refund
- Compliance under Society Act 1860
- Hi experts need help
- How to object stamp duty value if property is sold
- Residential House property and it's loan can shown
- Income Tax Department Website Error While Importin
Related Topics :
CAclubindia
