In AR module
What is the difference between Debit Memo and Credit Memo ?
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 |
Post New Answer View All Answers
Re: While you are in implemenation what are u faced the issues ? tell me what some ap & GL issues?
how to do customization while doing oracle implementation. what is the role of functional consultant in customization?
explain with examples what r the roles & Responsiblities of a functional consultant who reviews the Test Scripts, Test Cases and Test Execution Results of AP, FA and GL.
Explain about Localization (IND & US ) in Oracle Apps ?
could you please post some work around that any body have done in the financial modules.
What is difference between primary and secondary ledger
What is the use of mo: security profile, while configure multiorg?
I am created credit memo in at but while trying to complete it showing error message-hz_party_location
what is the steps to customization ?
Substitute receipts and Unordered Receipts
What kind of necessary ap information you gather from the client?
What is the Use of Grouping Rule in Receivables ? is it mandatory field ?
Provide an overview of AR cash receipt processing.
can any one tell me what exactly functional consultant do on daily basis? client requirements?
Difference between header level tax calculation and line level tax calculation