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Understanding Debit and Credit Notes

A debit note notifies the customer of a charge to their account for reasons such as billing errors, accrued interest, commissions, or shipping costs. Through a debit note, the company modifies the amount of a document in its favor. A credit note is a document issued by the seller to cancel or correct an invoice in favor of the customer.

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4 views2 pages

Understanding Debit and Credit Notes

A debit note notifies the customer of a charge to their account for reasons such as billing errors, accrued interest, commissions, or shipping costs. Through a debit note, the company modifies the amount of a document in its favor. A credit note is a document issued by the seller to cancel or correct an invoice in favor of the customer.

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ScribdTranslations
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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DEBIT NOTE

A debit note is a document or accounting receipt through which


The customer is notified of the charge of a monetary amount to their account.

There is a fundamental difference between the debit note and the credit note.
The debit note modifies or restructures the amount of a document to
favor of the issuing company. Meanwhile, the credit note modifies or
restructure the amount in favor of the customer.

Reasons that originate or cause the issuance of the debit note

The reasons or circumstances that lead to the notification to the customer through the
The debit note is as follows:

Due to errors or mistakes made in the issuance of the invoice. These can
to comply with situations regarding the price or quantity of goods.
Basically, because a smaller amount has been invoiced.

For accrued interests. That may be due to unpaid amounts,


freight, etc.

For the collection of commissions.

Shipping cost.
CREDIT NOTE

What is a credit note?

It is a commercial document with legal validity issued by the seller or supplier.


of a service, to cancel an invoice or make a correction to it, such as
result of a balance in favor of the buyer.

What is a credit note and what is it used for?

The Credit Note is an administrative document that serves as proof.


between a company and a client, and it will offer a series of advantages to both. In
This document must reflect all the information regarding this credit balance.
what has been granted to the client.

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