Interested to Buy Any Domain ? << Click Here >> for more details...
What is Debit Memo & Credit Memo in Payables?
- 27 Answers
- 193880 Views
- Cognizant, HCL, IBM, TCS, I also Faced
- E-Mail Answers
Answer Posted / g prasad
Debit memo is a document which is prepared by the customer
to his suppliers to reduce in the amount due to over
casting or damage of the goods or services. It allows
negative balances only.
Credit memo is a document which is prepared by supplier and
sent it to customer to reduce his due due to overcasting in
the original invoice. It allows negative balances only.
The main difference between Debit Memo and Credit Memo is
the origin of the document. If it is prepared by customer
send it to supplier it is called as Debit memo and Supplier
will accept it after confirmation. Supplier will not
prepare Credit memo againt debit memo. And the document is
prepared by supplier it is called as credit memo and
customer will accept it but do not prepare debit memo
against supplier credit memo.
| Is This Answer Correct ? | 62 Yes | 9 No |
Post New Answer View All Answers
Payables Applications Technical Reference Manual
What is the db number of a particular customer TCA?
Can I do a payment of 50 bills on a post date. If yes, then how?
What is automation of accounts payable activities (evaluated receipt settlement)?
How do u bridge the gaps in functional understanding of AP,GL,FA. explain with some live examples.
Please post the setups required to approve the payable invoice in AP.
We are running Oracle EBS 11i and yesterday whilst doing my month-end I forgot to select "calculate finance charge" on form ARXSUPST AR Print Statement run. I am struggling to get to My Oracle and was hoping someone out there might have experienced or heard of a similar problem. What are my options to rectify this situation... I look forward to you inputs..... Thank you Regards Salie
Invoice Approval Process?
What is the Invoicing System in Oracle R12
What is meaning of deprecation?
Explain about Localization (IND & US ) in Oracle Apps ?
What is the Process of Reconciliation Between AP to GL
Define the activities of the Configuration Manager (AP,GL,FA) in the team. Give examples
While assigning the security by book in oracle assets..i am unable ot get the asset org in security profile form.This asset org was already defined in org description window.
Explain Customization process?
