What is Debit Note and Credit Note (Explained in Detail)
👉This video you will learn about What is Debit note and Credit Note👈
📚 How to issue Debit note and Credit Note
📚 Why we need to issue Debit note and Credit Note
📚 Who can issue Debit note and Credit Note
📚 How to fill Debit note and Credit Note
01:37 So let's begin our hindi lecture with the definition of Debit note and Credit note.
02:25 What is Debit note?
A debit note is a commercial document issued by a buyer to a seller as a means of formally requesting a credit note. Debit note acts as the Source document to the Purchase returns journal.
03:11 What is Credit note or Credit memo?
A credit note is a commercial document issued by a seller to a buyer. Credit notes act as a Source document for the Sales return journal.
04:18 Debit Note explained with an example
07:15 Format of Debit Note - Debit Note format has been explained in this video & all the points you need to remember while filling up the Debit Note form.
12:10 Format of Credit Note - Credit Note format has been explained in this video & all the points you need to remember while filling up the Credit Note form.
15:16 Journal Entry related to Debit Note with the help of different cases:
(i) Case I - When the seller send goods to the buyer
Journal Entry related to Credit Note with the help of different cases:
(ii) Case II - When the buyer return the goods to the seller
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