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In AR module
What is the difference between Debit Memo and Credit Memo ?
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Answer Posted / prasadrao.ladella
In AR Module "Dr memo" is raised by the Vendor to collect amount from the Customer for Freight charges etc, it is positive amount.it increases liability, becoz customer needs to pay amount
where as "Cr memo" is can be raised by Vendor to returned amount to customer for damaged goods or duplicate bill etc,
it is followed with negative symbol.it decreases liability of customer, becoz amount will be returned to customer and it will be added to his balance.
| Is This Answer Correct ? | 20 Yes | 1 No |
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