What is Debit Memo & Credit Memo in Payables?
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Answer Posted / babitha
Debit memo and credit memo are used in payables to reduce
the supplier balance when ever goods are returned.
Credit Memo is send by the supplier to reduce his
liabilites.
Debit Memo is created by the purchasing organization when
ever supplier does not send credit memo for purchases
returns.
Debit memo and Credit memo matched to Purchased invoice
(standard invoice)
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