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?
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 !!!!!
Is This Answer Correct ? | 4 Yes | 1 No |
Post New Answer View All Answers
On what different real time issues you worked while doing P2P cycle implementation?
Please post the setups required to approve the payable invoice in AP.
Invoice Approval Process?
Can I do a payment of 50 bills on a post date. If yes, then how?
what is the meaning of purchase default and what are the types
What is Reporting of financial data in a project.
What is difference between primary and secondary ledger
I am created credit memo in at but while trying to complete it showing error message-hz_party_location
What is the Process of Reconciliation Between AP to GL
how to do customization while doing oracle implementation. what is the role of functional consultant in customization?
We have both consumption tax and With Holding Tax on each invoice, will there be any conflict involved?
What is the procedure for requition import?
Write Test Scripts for a telecummunication project on the basis of priority with some examples with regard to AP,GL,FA.
While assigning the security by book in oracle assets..i am unable ot get the asset org in security profile form.This asset org was already defined in org description window.
I have a requirement where during the consolidation into USD (from GBP books) I want use two different exchange rates for two consolidations. Child SOB is same but the Parent SOB's are different. How can this be done in Oracle Financials? Answers will be Appreciable. Thank You.