HOD accounts
502 Points
Joined June 2012
@ Geetha, Your will raise debit note, when you want to deduct certain amount from the total invoice. for eg. If I raise an invoice (for me sale and for you its purchase) for Rs.100/- and if you find some defect, shortfall in qty of material supplied or if there is some price difference for say Rs.10/- then you will raise an debit note Rs.10/-. This will help you to reduce the outstanding payable to me by Rs.100-10 = Rs.90/-. and vice versa for credit note.
Hope I made the concept little clear to you.
Regards
Anandan.s