by A debit note (also known as debit memo) can be issued from a buyer/ purchaser to their seller to indicate or request to return the funds due to incorrect or damaged goods received, purchase cancellation, or other specified circumstances.
Some common scenarios when to issue a debit note:
1. Goods received are damaged or defective
2. The purchaser has been overcharged
3. The invoice value is incorrect (due to extra goods being delivered, or goods are charged at a lesser value, etc.)
How to use Debit Note Voucher in TallyPrime
Step 1 Click on vouchers
Step 2 Click on Other vouchers
Example
1. Company A purchases goods from Company Sangam Pvt Ltd.
2. Upon arrival at Company Itech Education YT, the goods are damaged. Now Company Itech Education YT would like to return the goods to Company Sangam Pvt Ltd.
3. Company Itech Education YT issues a debit note – containing all the relevant information including original purchase amount.
4. When Company Sangam Pvt Ltd receives the debit note, they can review and approve the request, and issue a credit note as proof of reimbursement to Company Itech Education YT.
What is the difference between credit note and debit note?
The main difference between credit note and debit note is that credit notes record money that sellers owe to a client and debit notes record money that a client owes to sellers.
When purchase is return a debit note is issued, while a credit note is issued when there is a sales return.
1. Make Debit Note To Sangam Pvt Ltd of Following Item.
Assignment No 01
Make Debit Note To Bala Ji Mobile Hub of Following Item.
Assignment No 02
Make Debit Note To Basant Mobile Communication of Following Item.
Assignment No 03
Make Debit Note To Mehta Mobile Marketing of Following Item.
