Saturday, June 11, 2011

What is Debit Note? ( Purchase Return, Wrong Quantity....)

 What is an 'Debit Note'?
Debit Note proves that a debit entry has been made to a debtor's or creditor's account. A customer or supplier can be debited for variety of reasons such as purchase return, wrong quantity or quality of product, rate difference, discount, commission, etc.
When goods are returned to the supplier, a Debit Note is made out of his name. But if you want to record the stock also (in case of Purchase Return) then you must enter 'Purchase Return' voucher 'Purchase'.

Regards
G.Srinivas

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