Debit note
A debit note communicates an adjustment from the issuer’s perspective. In the common FA purchases-return context, a buyer sends a debit note to a supplier to request a reduction of the amount payable, for example for returned goods or an overcharge. A seller may also issue a debit note for an additional charge. Read who issued it and why.
Worked example
A buyer returning $200 of faulty goods sends a debit note requesting credit; the supplier may confirm the reduction by issuing a credit note.
Common mistake
Do not define a debit note as always increasing the buyer’s debt. Its direction depends on the issuer and transaction context.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | F1 | Direct | July 2027–August 2028 |
| ACCA | F2 | Supporting | July 2027–August 2028 |
| ACCA | FA | Direct | September 2026–June 2027 |
| ACCA | K1 | Direct | July 2027–August 2028 |
| FIA | FFA | Direct | September 2026–June 2027 |