A debit note, often referred to as a debit memo, is a commercial document issued by a seller to a buyer, indicating the reduction of a previously invoiced amount. Once created, it serves as a notification to adjust an existing invoice or other related accounting entry.
Debit notes are typically used for various reasons, including correcting billing errors, adjusting prices, providing discounts, and handling product returns. They are commonly used in business transactions, where they help to rectify discrepancies and maintain accurate accounting records.
