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In AR module
What is the difference between Debit Memo and Credit Memo ?
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Answer Posted / kamran zaidi
A debit memo is created for the services which have already
been provided to the customer or on the expenses which
already have been made the company and now they want to get
the amount from the client. Important thing to note here is
that the amount on the debit memo does not add to the
revenue of the company.
Credit memo is created for deducting the billed amount may
be in case of return of good or if more amount have been
billed earlier.The amount on the credit memo is placed in
negetive.
This credit memo is then tagged to the earlier bill which
has to be corrected.
| Is This Answer Correct ? | 18 Yes | 7 No |
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