what is the difference between credit and debit note?
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Answer Posted / niraj kumar
Debit Note is a commercial document issued by the purchasing
dealer to his creditor when he returns the goods, found
damaged in transit or any other reasons . In this memo, the
party from which goods were purchased ,his account is
Debited and Purchase or Purchase Return is Credited with the
value of returning the goods.
Debit Note is also issued by the creditor or the selling
dealer to his debtor i.e. to whom he has sold goods in the
case when the price calculated for sales were too low or in
other words selling price calculated with the wrong scaled
prices.
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