Answer / muhammad ismail

Debit note means when we purchase some thing ,so we debit that party,and when we sell some thing so we credit that party.

Answer / raj

CREDIT NOTE IS A SALES RETURNS"

DEBIT NOTE IS A PURCHASE RETURNS"

Answer / s.v.bhaskar

SIMPLE ANSWER:

DEBIT NOTE IS "PURCHASE RETURNS"

EXP:AtoZ GEN STR. Purchased some material from XYZ STRS through transport then material received after verification of the weightless and packing the goods is some small damages.Hence the goods returned to XYZ STRS., and raised the DEBIT note(some above reasons).

i.e., ENTRY IS 1.AtoZ GEN.STR(PURCHASE A/C.) DR.
To XYZ STRS CR
(BEING MATERIAL PURCHASE MADE)

2.XYZ STRS (PUR. RETURNS A/C.) DR
To AtoZ str(PURCHASE A/C.) CR.
(BEING MATERIAL RETURNED)


CREDIT NOTE IS SALES RETURNS:

EXP:AtoZ GEN STR. material sale to S.V.BHASKAR through transport then material received after verification of the Mmaterial weightless and packing the goods is some small damages.Hence the goods returned to the AtoZ STRS., and seller(AtoZ) give the discount offer and decreased the invoice amount and raised the CREDIT note(some above reasons).
that is called CREDIT NOTE.

i.e., ENTRY IS 1.S.V.BHASKAR A/C. DR.
To AtoZ GEN STRS CR
(BEING SALE OF MATERIAL )

2.AtoZ GEN STRS A/C.) DR
To S.V.BHASKAR (SALES RETURNS) CR.
(BEING CREDIT NOTE RAISED FOR DISCOUNT AMOUNT OR MATERIAL AMOUNT DECREASED)

Answer / roshan

credit note means sales return means this note issued by
the customer to the seller
debit note means pirchase return means this note issued by
seller to the supplyer

Answer / sriramamurthy

credit means the deposited money taken from the card
so that is the credit card.
In contrast with credit card this is exactly opposite.
So clearly ur bank pay money according to usage
after that u should pay the money to that Bank according
to the conditions.
Are u satisfied with that answer.

what is the difference between ICWA and CWA?

2 Answers  

Expand---------PRTS

1 Answers  

while doing work in dolphin software when credit note is given by supplier to purchaser then purchaser is debited supplier account so on credit side which account is coming which account should be credited

0 Answers  

we are in contraction business, we purchase raw material and paid tax on related material, suppose we want to bill to our party in WCT?

0 Answers  

under which category petty cash expences will fall in tally ERP.9?

5 Answers  

Liabilities: 2006 2007 Assets 2006 2007 Trade Creditiors 100 40 Cash atBank 100 65 Bills Payable 50 60 Account/R 105 120 Outstanding Expenses 25 20 B/R 130 140 Bonds Payable 220 140 Inventory 110 40 Accumulated Depreciation: Machinery 120 160 -on Machinery 30 35 Building 300 310 -On Building 75 85 Land 60 130 Reserves 100 115 Patents 55 60 Retained Earning 130 170 share Capital 250 360 Profit from operation after providing Rs.10,000as depreciation on building and Rs.10,000 on machinery and Rs.5,000 as amortization on patents for the year 'April 06- March07' was Rs.35,000. Other revenues for the year were Rs.40,000. An old machine with original cost of Rs.15,000 was sold at a loss of rs.5,000. Prepare Fund Flow Statment and Cash Flow Statment for the year ending March 31 2007 based on the information given above.

0 Answers  

what is journal entry to make- provision for liablities and provision for assets

2 Answers  

expand E P F

1 Answers  

Short Answer on _________National Debt

1 Answers  

Why to use tally only. What are the advantages of using tally

2 Answers   Telco,

difference between accrual,payable and provision

3 Answers  

Expand ------DCGI

1 Answers