Most of us newbies think: What is debit note definition? I will share with you all the details on what debit notes are to clear your doubts.
What is meant by debit note?The official account document for different business purposes related to payment is debit notes and credit. Besides invoice, these notes inform buyers how much existing business credit you have or how much you need to owe. These notes help in shipment tracking and payment due.
What is a debit note?You may ask what do you mean by debit note? Let me explain the terms in-depth to give you a clearer picture.
When a seller notifies a buyer about current debt obligations, it is recorded in a document. This informational piece of document is called a debit note or debit memo. Mostly, you get these notes when there is a business to business transaction.
For instance, let's say you run an agency where you sell books and you purchased some books from a store which supplies books to the agency. After purchasing the books, you owe them Rs.5,000. Now, the store will send you a debit note of Rs. 5,000 stating all the amounts summing up to Rs. 5,000.
Debit notes are used for business to customer transactions too when a customer gives back the goods to the business that is received on credit. For such an instance the buyer sends a debit note to the seller.
I hope I could clear your doubts about the debit note definition.
Read more:
What Is Meant By Debit Note?
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Authors Of The Question
What do you mean by debit note?
Hemanth Kumar
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3 Year
2021-11-11T18:40:50+00:00 2021-11-11T19:23:14+00:00Comment
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