Debit Note


Debit Note

A document used by a purchaser to inform a vendor of the quantity and dollar amount of goods being returned, and requesting that the dollar amount be returned to the purchaser. A debit note is often used to return goods on credit. The vendor then issues a credit note to the purchaser indicating that the goods have been received, and that the purchaser will not have to pay for them.

Also known as a "debit memo".

Debit notes are generally used in business-to-business transactions. Such transactions often involve an extension of credit, meaning that a vendor would send a shipment of goods to a company before the goods have been paid for. Although real goods are changing hands, until an actual invoice is issued, real money is not. Rather, debits and credits are being logged in an accounting system to keep track of inventories shipped and payments owed.


Investment dictionary. . 2012.

Look at other dictionaries:

  • debit note — debit re.ceipt AmE n a written record showing that a customer owes money to a company …   Dictionary of contemporary English

  • debit note — A document sent by an organization to a person showing that the recipient is indebted to the organization for the amount shown in the debit note. Debit notes are rare as invoices are more regularly used; however, a debit note might be used when… …   Accounting dictionary

  • debit note — A document sent by an organization to a person showing that the recipient is indebted to the organization for the amount shown in the debit note. Debit notes are rare as invoices are more regularly used; however, a debit note might be used when… …   Big dictionary of business and management

  • debit note — A document that a customer issues to a supplier, following a genuine mistake or overcharge, or an agreed change in the value of supply. HM Customs & Revenue Glossary * * * debit note debit note ➔ note1 …   Financial and business terms

  • debit note — noun : a memorandum of goods returned and debited to a consignor by a consignee * * * debit note noun A document advising an account holder that his or her account has been debited with the amount shown • • • Main Entry: ↑debit …   Useful english dictionary

  • debit note — / debɪt nəυt/ noun a note showing that a customer owes money ● We undercharged Mr Smith and had to send him a debit note for the extra amount …   Marketing dictionary in english

  • debit note — / debɪt nəυt/ noun a note showing that a customer owes money ● We undercharged Mr Smith and had to send him a debit note for the extra amount …   Dictionary of banking and finance

  • debit note — notice of amount charged to an account …   English contemporary dictionary

  • debit note — noun (C) a document sent by a company to a customer telling them how much money they owe …   Longman dictionary of contemporary English

  • debit note — Fin a document prepared by a purchaser notifying the seller that the account is being reduced by a stated amount, for example, because of an allowance, return of goods, or cancellation …   The ultimate business dictionary


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.