Quick Jump Menu
Subscribe to Comments Subscribe to Comments
Subscribe to Updates Subscribe to Updates
Email to a Friend Email to a Friend
Print Article Print Article
Export to PDF Export to PDF
Add to My Favorites Add to My Favorites
Remove from Favorites Remove from Favorites
How do you find this Article? How do you find this Article?
Rss RSS Articles
Advanced Search Search the Knowledgebase
Transaction File Maintenance - Purchase Credit Note with GST 6 % exclusive (except IM)
Author: Wan Hua Ng Reference Number: AA-05598 Views: 10506 Created: 2015-05-05 20:14 Last Updated: 2015-05-05 21:48 0 Rating/ Voters


Attachments
Enter Transactions Related to Purchase - Purchase CN with GST 6%.pdf 0.3 Mb Download File
Rss Comments 2
  • [ hjlee]: Double entry for Purchase Credit Note 2015-06-13 10:20 #

    As I know Purchase Credit Note was received from supplier, means there may be overcharged of purchase, so will reduce amount due to supplier, the double entry should be as follow :

    DR. Supplier
    CR. Purchase

    Is there right? Or you means other? Please explain, thanks.

  • [Li Zhen Yap]: Re: Double entry for Purchase Credit Note 2015-06-16 15:31#

    Dear Hjlee,

    Thank you for your enquiry.

    1. If supplier issue you a credit note, it should be your Purchase Debit Note:

    DR Supplier
    CR Purchase

    2. If supplier issue you a debit note, it should be your Purchase credit Note:

    DR Purchase
    CR Supplier

Info Add Comment
Nickname: Your Email: Subject: Comment:
Enter the code below:
Share Knowledge by: Sage Connect - Connected Learning