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what is the difference between credit and debit note?

Answers were Sorted based on User's Feedback



what is the difference between credit and debit note?..

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

what is the difference between credit and debit note?..

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 175 No

what is the difference between credit and debit note?..

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

what is the difference between credit and debit note?..

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

what is the difference between credit and debit note?..

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

what is the difference between credit and debit note?..

Answer / rajkumar

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

what is the difference between credit and debit note?..

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

what is the difference between credit and debit note?..

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

what is the difference between credit and debit note?..

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

what is the difference between credit and debit note?..

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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