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Debit Note

This Topic covers

  • When should we make Debit Note entry.
  • How to make this Entry.

Debit note



Q. When we make Debit Note Entry ?

  • When we get some amount of Discount from our supplier when we purchase something on credit and pay him the total amount , then supplier gives us Debit Note.
  • After getting Debit Note, the given discount amount will be minus from the total amount we have to pay to our supplier

  • Q.How to to make Debit Note Entry ?


    Debit-NoteImage

  • While making Debit Note entry, in Debit side, select Name of the supplier and in Credit side select Turnover Discount Received Account. and add the Discount Amount.

  •  
    Dr. 
     
    Cr. 
    To,
    Supplier's Account
    Amt. 
     By,
      Turnover Disc. Received
    Amt
    Total
    Amt 
     Total
    Amt


    Credit Note

    This Topic covers

    • When should we make Credit Note entry.
    • How to make this Entry.

    Credit note



    Q. When we make Credit Note Entry ?

  • If a Customer purchase something on Credit and when he pays the total credit amount then we give some amount of Discount to that particular customer , then we make Credit Note Entry
  • After making this entry, the given discount amount will be minus from the total amount the customer has to pay.

  • Q.How to make Credit Note Entry ?


    Credit-NoteImage

  • While making this entry, in Debit side, select Turnover Discount Paid Account and add the Discount Amount. and in credit side, Select the Customer Name to whom we are giving Credit Note and add the Discount Amount.

  •  
    Dr. 
     
    Cr 
    To,
    Turnover Discount Paid
    Amt. 
     By,
     Customers A/c
    Amt
    Total
    Amt 
     Total
    Amt

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