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Vincent Ding Posted 21 years ago
Business & Finance

Credit note VS debit note

0 it seems to me that a debit note is a bill issued by one party calling for payment by some other party whilst credit note is like a notice advising some other party that some amount has been paid to their account for them to check in due course. if i'm right, then what role a payment voucher or a bank slip plays. 02br
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00i'm most concerned with credit note actually. 0-
  

Top answer

0 Your definition of credit-note seems to be right. Debit note is also a notice, advising that one party claims for payment by some other party. Credit note is sent as a reply to debit note to confirm consent of the party to carry out the payment.

— Fair Lady

  • 0 Your definition of credit-note seems to be right.
  • Debit note is also a notice, advising that one party claims for payment by some other party.
  • Credit note is sent as a reply to debit note to confirm consent of the party to carry out the payment.
  • 02br 02br 00I am not sure about Payment voucher - I presume it is the same as payment order - the document that is submitted to a bank by a contractor requesting payment for his services rendered to a third-party.
  • 02br 02br 00Bank slip must be just a receipt confirming your banking or transferring the money.
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4 Answers
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0 Your definition of credit-note seems to be right. Debit note is also a notice, advising that one party claims for payment by some other party. Credit note is sent as a reply to debit note to confirm consent of the party to carry out the payment. 02br
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00I am not sure about Payment voucher - I presume it is the same as payment order - the document that is submitted to a
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0 The bank slip plays a major role for the bankers but not for us as we have the entries made in the passbook. As you are the person who has made the deposit the banker keeps the slip and thus it's a Voucher type for him. 0-
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Debit note is basically a note issued to the supplier for purchases return. While purchasing goods, supplier's account is credited and when the goods are returned to the supplier, his account is debited and a note is sent to him which is known as debit note.

Credit note is a note sent by the supplier to his debtor/purchaser for sales return.
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The payment voucher is the final proof of payment and must be kept in record to provide information in case of any querries
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