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what is the difference between credit and debit note?
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Answer / uday shankar
Credit note is issued by supplier in respect of Purchaser
account has been credited in books, whereas debit note is a
note issued by purchaser to supplier in respect of supplier
account has been debited in books.
| Is This Answer Correct ? | 777 Yes | 148 No |
Answer / amir
credit note means when goods is returned from the buyer
then it is our liability and credit note is given to the
buyer regading salesreturn whereas debitnote is given by
the supplier when goods is returned to them by us
| Is This Answer Correct ? | 423 Yes | 176 No |
Answer / spsiva.mba
Debit Note:
When goods are received from the supplier, the supplier
account is credited. When goods are return the supplier
account is debited. In the case of purchase returns a
debitnote is prepared. It should contain all the details of
purchase returns.Debit note will be made on duplicate, one
will be sent to the customer and one will be kept as a
office copy.
Credit Note:
Credit Note is a statement sent by the seller to his
customer intimating that his account has been credited to
him and any other allowences granted to him.
| Is This Answer Correct ? | 282 Yes | 53 No |
Answer / suhasini modagi
Hello Sriramamurthy
u r totally wrong...i think u have entered it generally and
it is not the correct answer..
Credit note means sales return and debit note is purchase
return.
For credit note and debit note...refer to Uday's answer
which has been mentioned above i:e first answer
| Is This Answer Correct ? | 162 Yes | 30 No |
Answer / naheem
credit note means sales returns,a credit note is a document
sent by the coustmers when the goods sold him are return
due to poor qality,
Debit note means purchase returns.a debit note is issued
when goods are returned to supliers due to poor quality or
other reason.
| Is This Answer Correct ? | 124 Yes | 33 No |
In business point of view
"DEBIT IS A PURCHASE RETURNS "
Debit note is a document is prepare by Business sent to
suplier due to pure qulity materials & some defects in
material.
Debit note contains retunabale goods Qty,reasons for returns
"CREDIT NOTE IS A SALES RETURNS"
Credit note is a document is prapared by customer sent to
business.
Credi note contains retunabale goods Qty,reasons for
returns
| Is This Answer Correct ? | 111 Yes | 33 No |
Answer / sammy
Debit note indicates that an account has been debited. It is
generally given by a purchaser(customer) to a supplier. The
supplier being the creditor to that extent is informed that
his account is debited. Whereas a credit note is given by a
supplier to a Debtor(customer) to inform him that his
account to that extwnt has been credited.
this is de right answer .... 4 sure !!!!!
| Is This Answer Correct ? | 89 Yes | 30 No |
Answer / spsiva.mba
Debit Note:When goods are recived from the supplier, the
supplier account is credited.When goods are returned the
supplier account is debited, so in case of purchase returns
a debit note is prepared. It should contain all the details
of purchase returns.Generally a debit note will be made in
duplicate, one will be sent to the customer and other will
be kept as office copy.
Credit Note: It is a statement sent by theen seller to his
customer intimating that, his account has been credited
with the amount of goods return by him or any other
allowences granted to him.
| Is This Answer Correct ? | 90 Yes | 36 No |
Answer / shoukath
debit not means purchase return and credit not means sales
return
debit not is preppard by byuer to his supplier and credit
not is vice versa
| Is This Answer Correct ? | 44 Yes | 10 No |
Answer / rohit bhargava
Simply we can say credit note is given to the customer when
we billed excess to the customer and debit note is raised
when we billed short to customer.
| Is This Answer Correct ? | 40 Yes | 12 No |
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