A debit note is a reminder which prepared and sent by the financial institute to the person whose payments are overdue. This debit note will let the people remind how much bills are still overdue and on what date they needs to be paid. So, we can call this debit note as a crucial step which assists the people to run a process for fully collecting the unpaid bills from the customers or potential clients. However, a general sort of debit note may always generate as a form of letter. This smart letter may have accessions to convey the statement of seller on the hearing of buyer. The seller can issue this letter to advise the buyer to pay the due amounts of credit within a set period of time.
A debit note may truly looks like an invoice which is somehow an advanced form of debit note. People can also recognize it as a debit memo. Apart of this, a debit note may issued by a supplier when the price of supplied products has been increased due to the change in market flow or increase in tax ratio. The debit note can also be driven by people to return the amount of credit still in due over the purchase of goods. Thus, the debit note will further indicate that goods have been delivered and now purchaser must have to pay for within a period sated for the receiving of payable.