BOOK DEMO
Debit Note

Title- Purchase Return [Hindi]
Description- In normal day to day functioning of a business, goods/stocks which are purchased, being returned is quite common. This can happen for a variety of reasons like defects in goods, quality standards not matching with the required quality demanded, buyer not requiring stock, etc. So when these goods which were purchased earlier are returned, this process is called Purchase Return. This leads to a decrease in gross purchases made by the purchaser. These transactions of goods being returned, like any other accounting transactions have to be recorded in books of account. These transactions are recorded under contra revenue account. Considering a transaction of credit purchases, two elements that would be affected will be the purchase A/C and the vendor A/C. Purchase of stock, being an expenditure, the purchase A/C is debited and the vendor being a benefit giver, vendor A/C is credited. Therefore, in case of purchase return, the vendor A/C is debited and purchases A/C is credited. This feature of the Marg software helps an organisation to trace all the stock/goods that is returned by you to your suppliers. For doing this an organisation has to issue a debit note which list the items that have to be re-issued by the supplier. Hence, it shows the amount of stock/goods that the suppliers owes to the organisation.
Keyword- Purchase Return Tutorial "Marg Software"
Share this video
Title- Debit Note
Description- Debit note is a document for a Debit to be raised against a party for reasons other than the invoice sent to the party. For example, A company has sold goods worth Rs 10,0000 to the Party. Later on it discover that the goods were actually worth Rs 10,0050. Hence the company will raise a Debit note for the Party for the amount that is receivable from them. In Marg you can enter Debit note related details by using the Debit note voucher. To create, modify, or delete a Debit note voucher, the Transactions menu provides the Debit note option.
Keyword- Debit Note, Purchase Return,
Share this video