Debit note & credit note
This query is : Resolved
02 November 2009
Are debit notes & credit notes issued simultaneously i.e. if A has to take 1000 rs from B, he will issue a debit note to B. Will B also issue a credit note to A to complete the transaction?
then what will be the parallel entry in B a/c
then what will be the parallel entry in B a/c
02 November 2009
only debit not will be issue by A,if A has to take 1000 rs from B,
02 November 2009
Your understanding is correct. Every debit note should have a credit note of the other party so as to acknowledge the transaction.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Disallowance of Section 43B(h) to sez units
- GST Regis.
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- REGARDING ACCOUNTING CODE FOR SERVICE TAX PAYMENT
- Redevolpment of bldg in mumbai
- Refund of AY 22-23
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
