Debit note

Page no : 2

vijay (.) (212 Points)
Replied 19 August 2009

Originally posted by :Guest
"	hi mohd gouse for example ,, u run a leather goods co. and u purchased leather of Rs 50000 from AP leathers for the purpose of job work. Now u find that leather of worth Rs 5000 is of inferior quality then in this case u will issue a debit note to the supplier i.e., AP leathers , .U will issue a debit note of Rs 5000 to the AP leathers and u will send the inferior quality leather with the debit note. In this way ur payment will be debited by 5000 and u have to pay only 45000. And some times suppliers issue a credit note when u return back their default goods to them.In that case they credit ur account by the amount mentioned in the credit note.	"