Hi,
There will be no impact.
The credit memo just exempts your business partner from the liability to the extent you give them the credit-thro' credit memo.
Example:cash discount,volume discount etc.
Thus the credit memo has only financial implications and no implications from the Asset Accounting.
If how ever the credit is given by way of Trade dicount etc and shown in the bill or in case of, for example,damages in the asset or dispensing with the warranty etc;then this will reduce the value of the asset.The impact will be,the value of the Asset will be reduced by the value as in the Credit memo.
The above is true for reversals also.
Regards.
Ramesh
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