Pros and Cons of Credit for Business
Different business requires credit in different cases. Some business is running mainly on credit terms. Insurance companies are mainly working through this concept by using credit note template. below we are going to discuss format of credit note and important thing to keep in your mind before move ahead to write this template.
- Low money
A business working on multiple projects at a time may not have sufficient money in account to pay for raw material needed for specific project. However they want to work on project therefore they can take the raw material from supplier on credit terms to work on certain project.
- To get discounts
On large number of raw material units bought a discount is offered by supplier therefore company may want a discount but don’t have all the money in start therefore they can avail discount through this.
- Lose for supplier
Supplier may suffer lose in case of loss bear by a business or due to trusting on a new company in market.
- Business behavior
Business may keep on buying material on credit terms results in building up of loan in such a large amount that is unable to pay by a business without using debit note template word.
Microsoft Word as Credit Note
A basic credit memo in Microsoft word consists of date on the top of tables. Two tables must then be formed first one having billing information like address and reason for credit while the second table consists of with same information however terms of credit must be added.
A separate table with rows and columns must with add related to material like quantity, item, description and price.