0845680984
  1. Master Data Management
  2. Inventory Accounting
  3. Opening Stock Balance and Reconciliation
  4. Purchase Receipt and Landed Cost Voucher
  5. Stock Entry
  6. Delivery Note and Packing Slip
  7. Traceability of Inventory
  8. Returns
  9. Warehouse Management
  10. Reports

Goods Delivered or Received can be returned for various reasons. It can be due to poor quality, delayed delivery, or any other reason. Returns can be of two types, Purchase Return and Sales Return.

In Purchase Return, you return the goods received from your Supplier due to various reasons. Purchase Return reduces your Stock which is reflected in the Stock Ledger and reduces your liability to pay the Supplier for the amount equivalent to the value of Goods returned, which is reflected in the Accounting Ledger. The Voucher or transactional document used to update the Stock is called a Purchase Return which is the same as Purchase Receipt but with negative values.

In the case of a Sales Return, your Customer returns the Goods previously sold to them. It, therefore, increases your Stock and reduces the accrued amount to be collected from the Customer which is reflected in the Stock and Accounting Ledger respectively. The document used to update the Stock is called Sales Return which is the same as Delivery Note but with Negative values.

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