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In Accounts Payable credit memo and debit memo are entered
with -ve amount but in Accounts Receivable why credit memo
has -ve amonut and debit memo + ve?
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Answer Posted / swathi
In Oracle terms
credit memo and debit memo decrease the liability and they
are applied against an invoice.
The only difference is
credit memo is initiated from supplier end
Debit memo is initiated from our end.
If we want to increase the liability in payables either you
have to create a seperate invoice or do some workaround to
achieve it through DM/CM.
IN Receivables the concept is pretty clear as credit memo
has -ve amount and debit memo is +ve.
| Is This Answer Correct ? | 50 Yes | 7 No |
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