What is the difference between the credit memo and Debit memo?
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Answer Posted / wrohit
Credit memo is issued by the supplier for credited
purchaser account in his books of account i.e reducing
debtors amount from his books with the credit memo amount
and Debit memo is created by the purchaser for reducing his
liability by the amount of credit memo which may be due
to supplier returns etc.
| Is This Answer Correct ? | 12 Yes | 2 No |
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