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Difference b/w Cr memo and Dr memo [message #278907] Tue, 06 November 2007 04:43 Go to next message
san4u
Messages: 42
Registered: September 2007
Location: bangalore
Member
Hi,

what is diff b/w Dr memo and Cr memo.

thanks in Advance,

regards,
Sankar.K

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Re: Difference b/w Cr memo and Dr memo [message #278992 is a reply to message #278907] Tue, 06 November 2007 09:28 Go to previous message
adragnes
Messages: 241
Registered: February 2005
Location: Oslo, Norway
Senior Member
Sankar,

Both credit and debit memos reduce the balanced owed. The diffence is who issues the documents. A credit memo is issued by a supplier (or creditor), a debit memo is issued by a customer (or debitor).

--
Aleksander Dragnes

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