Interested to Buy Any Domain ? << Click Here >> for more details...
What is Debit Memo & Credit Memo in Payables?
- 27 Answers
- 194910 Views
- Cognizant, HCL, IBM, TCS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / avinash s m
Both Debit Memo and Credit Memo is possible in the Accounts
Payables.
You can raise Debit Memo in the following reasons to a Supplier
a. Materials Rejection
b. Reduce in the Purchase Charges such as Tax, Fright,
Carriage and so on
c. Quality of the material or delay in the supply of
materials caused to stop the production line
You can raise Credit Memo in the following reasons to a Supplier
a. Increase in the Purchase Charges
b. Late Payment or Cheque Bounce Charges
| Is This Answer Correct ? | 12 Yes | 5 No |
Answer / mohd shahreza izzwan b. mohama
debit note is a debit memo send to supplier by us
(they creditors)for a purpose to reduce the amount we owe;
for the reason the product we received were damaged.
*purchases
credit note is a credit memo sent to customer by us
(they debtors) for a purpose to reduce the amount they owe;
for the reason the product they received were damaged.
*sales
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / oracle champions
Best answer found in this link
http://www.oraclechamps.com/oracle-functional-documents/261-oracle-financials-debit-momo-and-credit-memo.html
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / mahamood
credit memo means credit note and debit memo is debit note
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / jharsa
Debit Note: Debit note means, it is a note raised by the
when goods returned by the debtor i.e. by the customer who
bought goods from seller.
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / mohammad sarwar
What is major difference between Bank and Bank Account?
Bank is the place which we submit our cash or check and
Bank Account in the code of items or person.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / parveen
DEBIT MEMO MEANS A DOC. WHERE WE RETURNS THE GOODS & ADJUST
THE AMT WITH BILL IT IS IN CASE OF PURCHASE OF GOODS
CREDIT NOTE IS SAME BUT IT IS IN CASE OF SALE.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / mohammad sarwar
Debit memo raise by customer and credit memo is raised by
by supplier in order to ractify the balance of supplier and
customer
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / babitha
Debit memo and credit memo are used in payables to reduce
the supplier balance when ever goods are returned.
Credit Memo is send by the supplier to reduce his
liabilites.
Debit Memo is created by the purchasing organization when
ever supplier does not send credit memo for purchases
returns.
Debit memo and Credit memo matched to Purchased invoice
(standard invoice)
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / sheetal
debit memo is issued when we want money from supplier and
supplier issues credit memo.
debit memo for under payment and credit memo for over
payment.
| Is This Answer Correct ? | 5 Yes | 5 No |
why we need to run "Payables accounting process" for interest invoices? What are the accounting entries created?
what is meant by functional specifications involved in po and ap?
would anyone tell me what are the expected real time questions in the interviews
Is it possible to change the accounting period during the financial year? For eg change it from 12 to 13 months ?
Can anybody tell me.i have 3years of experience in a/c's field. but now i am looking for another company(IT field).I have completed pg M.com. In the post 3years of experience in a/c's side. (outof 3 years experience).... first 1years & 3 month of experience in one company and remaining 1.10 years of experience in another company)) I have covered my full details of experience & study. regarding above this particulars. How do I introduce my selfdetails in front of interview time
I am working on PPR process to print checks. Currently the checks are printing for each supplier, supplier site and payment method group. My requirement is the invoice level one DFF is available (like A and B are the input values). Please let me know how include this DFF at invoice grouping level.
What is average Balance In Oracle Financials?
Hi all, I'm confused when it comes the financial handling of transactions. What is the difference between an accounting entry and a journal entry in oracle eBS.
While doing implementation,Client wants two use 2 Accounting methods for both Sandard Accrual method and Sandard Cash Method.So how we need to map or how need to provide solution.
In R12 What are the PO types in Purchasing and Invoices in AP?
If the COA of the parent and child are difference then how will the consolidation be done?
what is drill down in oracle apps r12? What is GL Drilldown?
Oracle Apps Technical 
