:: Home Page            
 Advertise your Business Here     
Browse  |   Placement Papers  |   Company  |   Code Snippets  |   Certifications  |   Visa Questions
Post Question  |   Post Answer  |   My Panel  |   Search  |   Articles  |   Topics  |   ERRORS new
   Refer this Site  Refer This Site to Your Friends  Site Map  Bookmark this Site  Set it as your HomePage  Contact Us     Login  |  Sign Up                      
Categories >> Software >> ERP CRM >> SAP >> MM


 Basis interview questions  Basis Interview Questions (812)
 ABAP interview questions  ABAP Interview Questions (2426)
 SAPScript interview questions  SAPScript Interview Questions (127)
 SD interview questions  SD Interview Questions (1948)
 MM interview questions  MM Interview Questions (351)
 QM interview questions  QM Interview Questions (8)
 PP interview questions  PP Interview Questions (136)
 PM interview questions  PM Interview Questions (21)
 PS interview questions  PS Interview Questions (20)
 FI CO interview questions  FI CO Interview Questions (1647)
 HR interview questions  HR Interview Questions (434)
 SAP CRM interview questions  SAP CRM Interview Questions (262)
 SRM interview questions  SRM Interview Questions (11)
 APO interview questions  APO Interview Questions (18)
 Business Warehouse interview questions  Business Warehouse Interview Questions (622)
 Business Workflow interview questions  Business Workflow Interview Questions (9)
 SAP Security interview questions  SAP Security Interview Questions (332)
 SAP Interfaces interview questions  SAP Interfaces Interview Questions (4)
 Netweaver interview questions  Netweaver Interview Questions (144)
 SAP ALE IDocs interview questions  SAP ALE IDocs Interview Questions (47)
 SAP B1 interview questions  SAP B1 Interview Questions (57)
 SAP AllOther interview questions  SAP AllOther Interview Questions (92)
What is meant by a credit memo?
 Question Submitted By :: MM
I also faced this Question!!     Answer Posted By  
# 1
credit memo is as similar as money back to your account.
For Ex. If you did excess payments ( the difference between
PO price and Account Transfer price) to the vendor than the
actual payment or under some circumstances vendor is
returning some amount to your account, for this you need to
maintain one account type, that account type is called
credit memo.this may be just to identify why and from where
the money has been posted in your account.
If this is not maintaind, at the valuation level
conflicts in payment differences may arise.
If not please correct me.
Is This Answer Correct ?    16 Yes 3 No
Vijay Inamdar
# 2
Credit memos are reversals of invoice when the vendor has
charged you for more quantity that he has sent.
Say vendor sent you 8 units of a good costing 10 rs each and
charged you for 10 units in the invoice , so we will enter
the original amount (rs 100) and then do a credit memo for 2
units * rs 10 = rs 20
so when he sends you the invoice the accounting entry will be
Gr/IR dr. 100
Vendor account cr 100
During credit memo it will be :
Vendor account dr 20
GR/IR account cr 20
In effect the vendor account has been debited by rs 20
because he charged you more during invoice.
Is This Answer Correct ?    3 Yes 0 No
C.madhava Reddy
# 3
Credit Memo is a document that is issued by the vendor for
the damaged goods returned to the vendor by us. this amount
will be adjusted in the future purchases. for accounting
entries we will receive this credit memo.
Is This Answer Correct ?    2 Yes 0 No
N Raja
# 4
Credit memo always refers to vendor posting.Credit memo will lead to debit posting to vendor account.
for example:
while doing Invoice verification we have given qty as 100
but later we have realized that it should be 90qty.For this difference amount we will do Credit memo in MIRO.
Is This Answer Correct ?    0 Yes 0 No
Hawani Reddy
# 5
Credit Memo - A transaction that reduces Amounts Receivable
from a customer is a credit memo. For eg. The customer
could return damaged goods. A debit memo is a transaction
that reduces Amounts Payable to a vendor because, you send
damaged goods back to your vendor.
Is This Answer Correct ?    0 Yes 1 No
Prem Kumar
# 6
Usally the company is ranking the vendor with some
constraints.If the vendor is having a "A" class
ranking,then the company is making the payment well
inadvance or credit memo in favour of the vendorbefore the
goods is delivered.
Is This Answer Correct ?    1 Yes 16 No

Other MM Interview Questions
  Question Asked @ Answers
tell me invenotry management types? Infosys 3
when you enter a po with item quantity 10 price RS.100/-.The vendor sends an invoice with 15 quantity. NO GR.In real time what you have done are you post the invoice.explain HP 7
what is the difference between MB1B,MB1A,MB0A,   1
How are free items managed in a PO?   1
What are the documents generated in the MIGO 101 movement type? What are the accounts hit?   6
What is difference between "terms of payment" and "payment terms" Fields are available in vendor master purchasing view and accounting view respectively. System can take two differnt values for same vendor? why different values are maintained? Hero-Honda 6
Have got 6+ yrs of work experience in CAE/CFD. NOw i am planning to change my career to SAP MM . Kindly guide me on this how to go about it. I have already joined for SAP MM training. Kindly guide me weather i can put some fake experience and apply for the job or i can apply as a fresher with SAP MM. Thanks for the information in advance. Avi   2
how a support individual will receive Tickets/issues from client   3
What is Consigement stock & which accounting entries are posted at the time of GR? IBM 5
Could you please suggest the best institute WITH BEST FAULTYfor SAP MM in BANGALORE?   4
MM flow with Tcodes & tables IBM 5
For more MM Interview Questions Click Here 

Copyright Policy  |  Terms of Service  |  Articles  |  Site Map  |  RSS Site Map  |  Contact Us
Copyright 2013  All Rights Reserved.   ::