Debot or Credit Note

when we make debit note or credit note what we consider party account or sales or purchase account??
Replies (16)
Quick Summary
This discussion clarifies the accounting treatment for debit and credit notes. It explains that the specific reason for issuing the note determines whether the party account or the sales/purchase account is affected. For sales returns, the party account is credited, while for purchase returns, the party account is debited. Both accounts are ultimately impacted in these transactions.

It depends on the reason.

Sales Returns A/c Dr

To Party A/c


Party A/c Dr
To Purchase Returns
Sorry not on the reason
Both have to be considered

Sales Returns A/c Dr

To Party A/c


Party A/c Dr
To Purchase Returns
Debit or credit note party account.
It's not Debot note but it is debit note
Both account will be affected.
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Now why this thumbs after 13 days.
Just to wake up you
It's not to wake me but to gain points only
Then why you replied now
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Is that required?
Definately

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