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In Accounts Payable credit memo and debit memo are entered
with -ve amount but in Accounts Receivable why credit memo
has -ve amonut and debit memo + ve?
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Answer Posted / nilanjan
In AR Debit Memo will increase the customer balance amount.
If we want to increase our invoice amount which was not
there at the time of creation of invoice that time we have
raise a Debit Memo to the customer.
But in case if we have already charged more amount in
invoice for our customer the definately we need to rasie a
Credit Memo and informed to our customer for the credit back
to the extram amount which we have already charged to our
customer.
Thanks !!!!!
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