Question

Describe the utility of debit note and credit note

Answer 1

Hi friend,

A debit note is a document used by a vendor to infrom the buyer of the current obligations, or a document created by a buyer when returining goods received on credit.

The debit note can provide information regarding an upcoming invoice

Instead of manually creating revenue items, a credit note can be simply created with a single click of a button.

1) there is no need to create negative revenue items to obatain a credit note.

2) A draft invoice does not need to be changed to a credit note template...i hope it hepls you

Mark me as a brainlist...

Answer 2

Debit Note and Credit Note are used while the return of goods is made between two businesses. Debit Note is issued by the purchaser, at the time of returning the goods to the vendor, and the vendor issues a Credit Note to inform that he/she has received the returned goods.