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DEBIT NOTE, CREDIT NOTE TRANSACTIONS

SALE RETURN, PURCHASE RETURN,
DEBIT NOTE, CREDIT NOTE TRANSACTIONS


SALES RETURN VOUCHER

When goods are returned by a customer a Sales Return entry is passed


PURCHASE RETURN VOUCHER

When goods are returned to a supplier a Purchase Return entry is passed


CREDIT NOTE VOUCHER

When the price charged to a customer is reduced a Credit Note entry is passed


DEBIT NOTE VOUCHER

When the price charged by a supplier is reduced a Debit Note entry is passed


Manoj returned goods worth Rs. 3,000

Sales Return

Sales Return A/c....Dr.
   Manoj A/c
       
   

Returned goods to Thomas worth Rs. 1,500

Purchase Return

Thomas A/c...........Dr
    Purchase Return


Price of goods sold to Manoj reduced by Rs. 1,250

Credit Note

Sales Return A/c....Dr.
     Manoj A/c

Thomas reduced the price of goods sold to us by Rs. 75

Debit Note

Thomas A/c .........Dr
      Purchase Return


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