- Types of
invoices:
Standard
Debit memo
Credit memo
Pre-payment
Expense report
Withholding tax
invoice
Miscellaneous
Invoice
- Difference
between Debit memo and Credit memo
Supplier issues
credit memo. If there is any error in the invoice sent or a problem with the
shipment then this memo will be issued to decrease amount specified in original
invoice.
Customer issues
Debit memo. If there is any defect in the goods, then customer will return the
goods along with debit memo to supplier, to reduce the amount specified in
original invoice.
Let me give an
example.if the invoice amount is 1000$,if supplier raises 100$ credit memo,then
it is understood that due to some errors in invoice,he is sending a credit memo
,actual invoice amount is 900$.so the supplier total balances will come from
1000$ to 900$.
Now, let us take the example of debit memo,if there are any defect with goods supplied,say,for 100$ worth,then customer will send debit memo of 100$ to supplier.so in this case also the supplier balances come down from 1000$ to 900$.
Now, let us take the example of debit memo,if there are any defect with goods supplied,say,for 100$ worth,then customer will send debit memo of 100$ to supplier.so in this case also the supplier balances come down from 1000$ to 900$.
- 4-way
matching?
2 way Invoice, PO
3 way Invoice, PO, Receipts
4 way Invoice, PO, Receipts, Inspection
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