The Asset of Stock

1. Sales: Cash Sale (Cash Bill, Cash Sale Bills) => Cash Account (Debit) & Sales Account (Credit) , Credit Sale (Invoice)
2. Purchases: Cash Purchase (Official receipt, Cash Sale, Cash Bill), Credit Purchase (Invoice) => Purchase (Debit), Supplier (Credit)
3. Return Inwards: Sale Return (give Credit Note or receive Debit Note) is when customer return goods back (100% Debit)
4. Return Outwards: Purchase Return (give Debit Note or receive Credit Note) is when you return item to supplier (100% Credit)

When do you give Debit Note?

1. Goods return to supplier (creditors)
2. Charge to customer (1. Postage Charge 2. Carriage Charge (transportation) 3. Interest Charge 4. Legal Charge (Lawyer fee))
3. Discount received by creditors
4. Correction of error (Wrongly entered amount)
5. Exchange and Contra

When do you give Credit Note?

1. Goods return by customer (debtors)
2. Charge by supplier (1. Postage Charge 2. Carriage Charge (transportation) 3. Interest Charge 4. Legal Charge (Lawyer fee))
3. Discount to customer
4. Correction of error
5. Exchange and Contra