What do you mean by Debit Note & Credit Note.

Question

Accepted Answer

Debit Note is a document issued by a buyer to a seller to request a credit for overcharged or returned goods. Credit Note is a document issued by a seller to a buyer to reduce the amount owed due to overpayment or returned goods.

Debit Note is issued by the buyer to request a credit from the seller.
It is used when there is an overcharge or return of goods.
Debit Note reduces the amount payable by the buyer to the seller.
Example: A buyer receives an invoice with an incorrect amount, so they issue a Debit Note to request a credit for the overcharged amount.
Credit Note is issued by the seller to reduce the amount owed by the buyer.
It is used when there is an overpayment or return of goods.
Credit Note reduces the outstanding balance or future payments owed by the buyer.
Example: A seller receives a payment higher than the invoice amount, so they issue a Credit Note to reduce the amount owed by the buyer.

Accepted Answer

Debit note issued for purchase return or giving discount to the buyer and credit note issued by seller for sales return or make excess amount of invoice or given discount to the client.

Accepted Answer

DEBITE NOTE ISSUE AGAINST PURCHASE AND CREDIT NOTE ISSUE AGAINST SALE

What do you mean by Debit Note & Credit Note.

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What do you mean by Debit Note & Credit Note.