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This document ensures that supplier liabilities reflect the correct payable amount after any post-invoice corrections.
- Recognize Expenses in Payment Application Received-When enabled, expenses are recognized automatically. ???
- Goods Return- For returning physical items.
- Item- for each entry in the transaction.???
- deduction tab description is strange. debit note is used to adjust deductions values made in invoice received.
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Company Name- Client or company for whom the debit note is created.
Contract-Contract Contract linked to the transaction.
Recognize Expenses in Payment Application Received- When If already enabled , expenses are recognized automaticallyin Invoice received, it will be automatically enabled in debit note.
Subcontractor Agreement- Links the debit note to a subcontractor agreement.
Transaction Type- Purpose of the debit note:
Goods Return- For returning physical items or return transactions for services.
Invoice Correction- To correct amounts/quantities without returning items.
Project-Project associated with the transaction.
Apply Retention / Ret. VAT at Retention Invoice-Apply retention and retention VAT rules as per the contract.
Basis-Original invoice received is being reversed or adjusted.
Date of Original Supply-Date when the original goods/services were supplied.
Entity Name-Legal entity issuing the debit note.
Warehouse-Inventory location involved (if applicable).
Comment-Internal notes or remarks.
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Subcontract WBS-Code that links the expense to the subcontractor’s part of the project for tracking costs.
Department-The internal department responsible for the expense, usually shown with code and name.
Expense Item- The type of cost or GL account used to classify the expense.
Business Activity-The area of work the expense relates to, such as subcontracting, procurement, or internal services.
Customer Order-Links the expense to the client’s order or deliverable that it supports.
Cost Object-Optional field to connect the expense to a cost center, asset, or internal tracking unit.
Comments-Notes or references for internal use, documentation, or audits.
Deduction tab
The Deduction tab is used to record and manage any deductions related to the debit note, such as penalties, withholding taxes, or other amounts withheld before settling the debitA debit note is issued to revise or adjust the deduction amounts applied to a received invoice.
Item- Name of the item.
Content- Brief description of the item name.
Quantity- Number of units being debited or deducted.
UOM (Unit of Measure)- The unit used to measure the quantity.
Price- Price per unit of the item.
VAT %- VAT rate applied to this item.
VAT Amount- VAT calculated based on the price and quantity.
Deduction Amount- Total value of the deduction before VAT (Quantity × Price).
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