(i)Debit note and credit note : Debit note refers to a letter or a note which is sent by the buyer to the seller stating that his account has been debited by the .mentioned amount on account of goods returned here with. It states the, quantity, rate value and the reasons for the return of goods. Two copies of the debit note are prepared; one copy is sent to the seller and the second copy is kept in office for future reference.
Credit note refers to a letter or note which is sent by the seller to the buyer stating that his account has been credited by the mentioned amount on account
of acceptance of his claim about the goods returned by him. It is also made in duplicate. One copy is sent to buyer and another is kept in office.
(b) Proforma invoice and invoice : The statement or forwarding letter containing the details of goods consigned from consigner to consignee is known as proforma invoice. It gives the particulars regarding quantity and quality of goods consigned. As the consignment is not sold and the consignee is not the buyer, therefore, the forwarding letter is sent along with the information. It is also known as interim invoice.
Invoice, on the other hand, is the statement supplied by the seller for credit purchase, giving the particulars of goods purchased. It states sellers name and address particulars of goods purchased and terms of payments. It is also called a Bill or Memo.
(c) Lorry receipt and railway receipt : Lorry receipt is a receipt issued by the road transport company for goods accepted by it for sending from one place to another. This document is a proof that the goods have been booked for transportation by the concerned transporter. It is also known as Bilty. For receiving the goods at the destination, the consignee (buyer) is required to produce lorry receipt at the destination branch of the goods transporter. Railway receipt is a document which is issued by the railways for goods accepted by it from the consignor for sending the goods from one station to another. Railway receipt contains information about date and place of booking of goods, destination place name of consignor and consignee, description of goods, etc. Goods sent by rail are delivered to the consignee or his representative on the production of railway receipt.