Debit and credit note

Briefly describe the term debit and credit note?

E

Expert

Verified

Debit note is an intimation sent to a person dealing with the business which his account is being debited for the reason indicated therein. This is a note made out with a carbon duplicate. The original one is sent to the party to whom the goods are returned and the duplicate copy is kept back for the office record.

Credit note is a suggestion sent to a person dealing with the business which his account is being credited for the reason indicated therein.

   Related Questions in Other Management

©TutorsGlobe All rights reserved 2022-2023.