What is charge backs in receivable ? and what type of
entries it will come ?

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What is charge backs in receivable ? and what type of entries it will come ?..

Answer / sunil kumar

Adjust the remaining balance of an existing debit items to
Zero and create a new Debit item to bill customer for
unpaid balance of original invoices. (

Dr..ChargeBack and
Cr….Receivable (Invoice)

Is This Answer Correct ?    24 Yes 3 No

What is charge backs in receivable ? and what type of entries it will come ?..

Answer / john pasha shaik

Charge Back is used to postpone the payment date of the
customer.It cancels the open Invoice and generated the new
invoice with the new payment date.

Accounting entry:
Receivables Account Dr..
Receivables Account Cr..

Is This Answer Correct ?    9 Yes 5 No

What is charge backs in receivable ? and what type of entries it will come ?..

Answer / surendra

Charge back is the process of reducing the balance of the
customer. We can reduce the balance by using creditnote
also. but it is when the customer has not done the payment.
once the customer done the payment we cann't use the credit
memo. there we have to use charge back. it also usefull in
case of bad debts, when osme of the customer became
insolvent or they are not able to pay their due, in those
case we use this.

Is This Answer Correct ?    5 Yes 6 No

What is charge backs in receivable ? and what type of entries it will come ?..

Answer / surendra

charge back means decreasing the liability of a customer. it
will be done if the customer has done some payments towards
the invoices. there are some other options are there.
i.e.creation of credit memo. but it can be apply only when
the customer has not done payment.

Is This Answer Correct ?    4 Yes 8 No

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