VATīoth the issuer and receiver shall include the input and output VAT from the debit and credit notes on the monthly VAT return (PP 30).
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The terms credit memo, credit memorandum and credit note have the exact same meaning and are used interchangeably. Difference between billed and actual quantity of the invoice Credit memo is a short form of the more formal term credit memorandum, which is also known as a credit note.
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Debit NoteĪ debit note is similar to an invoice and is issued to increase the value of the sale of goods or services performed and its related VAT. Tip: The net amount should be the credit given to the customer, adjusted against the original tax invoice amount. Tip: The purpose of a credit note is not to credit an invoice that has not been paid by the customer. Show the correct pricing, quantity and product type.Description of why this credit note is being issued.The reason for its issue (for example, “returned goods”).Number and date of the original tax invoice.Name, address and VAT registration number of the supplier.The document should be headed “Credit Note”.Discounts given after the invoice is issuedĬredit note should contain at least the following:.When the Bad Debt Expense can be Negative. A credit memo is also known as a credit memorandum or a credit note. Goods returned or goods rejected by customer A credit memo is a contraction of the term 'credit memorandum,' which is a document issued by the seller of goods or services to the buyer.
![credit note vs credit memo credit note vs credit memo](https://templates.invoicehome.com/credit-memo-template-us-band-blue-750px.png)
Keywords: Mazars, Thailand, Accounting, Credit Note, Debit Note, VAT, Tax Invoice, Revenue CodeĪ credit note is issued to adjust or to amend errors in a sales invoice which has already been issued and sent to a customer.