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What is the difference between debit notes and credit notes?

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Question added by Zaid Mahadin
Date Posted: 2015/04/20
Mohammed Salim Allana
by Mohammed Salim Allana , Compliance and Assurance Manager , United Arab Bank

A debit note is a method of claiming costs paid by your company to suppliers or clients. A credit note on the other hand is a way of reporting reversals or refunds you owe back to other parities. Both debit and credit notes use rather expense accounts and inventories transferred that are either credits or debits depending on the type of transaction you are making and transferring to other companies. This could be also used between the parent company and its subsidiaries.

lakshminarasimham mallareddi
by lakshminarasimham mallareddi , Manager Finance & Accounts , M/s. Vandana Global Limited, Raipur, Chhattisgarh

Debit what comes in credit what goes out

Salah Othman Yousef Alshambaati
by Salah Othman Yousef Alshambaati , مدير ادارة الحسابات , شركة انفال الجديدة للتجارة والمقاولات

I agree with Mr. Mohammed Saleem Allana

حسين محمد ياسين
by حسين محمد ياسين , Finance Manager , مؤسسة عبد الماجد محمد العمر للمقاولات العامة

agree with answers <<<<<<<<<<<<<>>>>>>>>>>>>>>>>>>

Deleted user
by Deleted user

agreed with all ...............................

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