What is difference between debit memo and credit memo?
Answers were Sorted based on User's Feedback
Answer / nagesh
In AP Module Both Debit memo and Credit memo reducing the
amount towards the supplier.
While entering the Debit and Credit memo both r taking
negative amount and Payment term has to be Immediate.
Debit memo raised by Organization.
Credit memo raise by Supplier.
|Is This Answer Correct ?||29 Yes||4 No|
Answer / shravan kumar
Unlike in AP MODULE where there is no difference between a
debit memo and credit memo.But in AR module we have to
enter a -ve amt for credit memo and +ve amt for debit memo
debit memo is similar to an invoice and it is just in
addition to an original invoice.When we forget to add a
fright or other charges to an invoice we later charge it by
creating a debit memo in case we charge more than the
product value we have to reduce it by creating a credit
memo. Or a customer returns some goods we have to reduce
receivable by creating a credit memo.
|Is This Answer Correct ?||29 Yes||6 No|
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