Difference between revisions of "Debit memorandum"
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| − | [[Debit memorandum]] is decrease in depositor's balance. | + | [[Debit memorandum]] is a memo issued by a purchaser to a seller, indicating that some Purchases Returns and Allowances have occurred and therefore the purchaser now owes less money on account. [[Debit memorandum]] can also be a decrease in depositor's balance. |
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According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
:[[Debit memorandum]]. Decrease in depositor's balance. | :[[Debit memorandum]]. Decrease in depositor's balance. | ||
| + | :[[Debit memorandum]]. A memo issued by a purchaser to a seller, indicating that some Purchases Returns and Allowances have occurred and therefore the purchaser now owes less money on account. | ||
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==Related concepts== | ==Related concepts== | ||
| + | *[[Credit memorandum]]. | ||
*[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]]. | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]]. | ||
Revision as of 08:57, 20 December 2018
Debit memorandum is a memo issued by a purchaser to a seller, indicating that some Purchases Returns and Allowances have occurred and therefore the purchaser now owes less money on account. Debit memorandum can also be a decrease in depositor's balance.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Debit memorandum. Decrease in depositor's balance.
- Debit memorandum. A memo issued by a purchaser to a seller, indicating that some Purchases Returns and Allowances have occurred and therefore the purchaser now owes less money on account.
Related concepts
- Credit memorandum.
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
