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12:20
YouTube
Counttuts
Debit Note vs Credit Note | Explained with Example
In this lesson, we explain what a Debit Note is, what a Credit Note is, and what their differences are. We explain where Debit Notes and Credit Notes are recorded and why they are created. We also go through a practical example of how Debit Notes and Credit Notes work. What is a Debit Note: 01:09 What is a Credit Note: 02:32 When is a Debit ...
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CA Deepak Lalwani on Instagram: "💡 Why Debit is written as “Dr” when there is no ‘R’ in Debit? This is one of the most common confusions in Accounting! Let’s clear it up 👇 The word Debit actually comes from the Latin word “Debere”, which means “to owe”. Similarly, Credit comes from the Latin word “Credere”, meaning “to entrust”. 👉 In old accounting practices, abbreviations were taken from Latin origins. So, Dr is short for Debere (not the English word Debit). And Cr is short for Credere (not
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