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Transaction File Maintenance - Purchase Credit Note with GST 6 % exclusive (except IM)
Author: Wan Hua Ng Reference Number: AA-05598 Views: 8515 Created: 2015-05-05 20:14 Last Updated: 2015-05-05 21:48 0 Rating/ Voters


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Enter Transactions Related to Purchase - Purchase CN with GST 6%.pdf 0.3 Mb Download File
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  • [ 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

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