Debit note & credit note

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Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2013 Dear Sir

Please all detail Debit note & Credit note

Hemant Kumar

Hemant Kumar (Expert)
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19 September 2013 Debit note is a note sent by one party to another informing him that his account is debited in the sender's book.
Debit note contains details as to why the party is debited and the amount of debit.
Debit note requires an acknowledgement from the receiver by a credit note.
Debit note is usually typed or written in blue ink.
Debit note can be sent by buyer when he is overcharged.It can be sent by buyer when he returns back the goods. It can be sent by the seller when he has undercharged the buyer.
The effect of a debit note is that the debit account gets more debited and credit account gets reduced.

Credit note is a note sent by one party to another informing him that his account is credited in the sender's book.
Credit note gives details as to why the party is credited and the amount of credit.
Credit note requires an acknowledgement from the receiver by a debit note.
Credit note is usually typed or written in red ink.
Credit note can be sent by the seller when he has overcharged the buyer.
It can be sent by the seller when he receives back the goods.
It can be sent by buyer when he has been undercharged.
The effect of a credit note is that the credit account gets more credited and debit account gets reduced.

Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2013 Thanks Sir

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Hemant Kumar

Hemant Kumar (Expert)
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19 September 2013 Welcome..........