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What is the difference between the credit memo and Debit memo?
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Answer / rangamannar
Credit memo is used to reduce the customer balance (i.e) to
reduce the debit balance. discount allowed , sale return etc
are routed through credit memo. Upward price adjustment
w.r.t to sale invoice is routed through debit memo for customer
The reverse is for debit memo. (i.e) to reduce the suppliers
credit balance debit memo is used. Credit memo is used to
increase the purchase value of the bill out side the AP invoice
| Is This Answer Correct ? | 15 Yes | 2 No |
Answer / 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 |
Answer / raghesh
Debit memo and credit memo are same meaning in AP in terms of Oracle . Both are reducing the value of invoices.
IN AR debit memo will use to increase the value of invoices and credit memo decrease the value ( sales return)
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / shridevi.hiremath
Credit memo: A sales document created on the basis of a
customer complaint. This reduces receivables in Financial
Accounting.
Debit memo: A sales document created on the basis of a
customer complaint. This increases receivables in Financial
Accounting.
You may need to create credit memos for various reasons (for
example, because of defective goods or because you have
overcharged a customer). Similarly, you may need to create a
debit memo, if, for example, you have not charged the
customer enough.
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / suresh
CR memo will raise by supplier and send to the
organization.it is negative invoice.it will reduce the
supplier balances.
DB memo will raise by organization and send to supplier .it
is negitive invoice.it will reduce the supplier balances.
| Is This Answer Correct ? | 3 Yes | 5 No |
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