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مشاهدة النسخة كاملة : ?differenciate purchase returns and sale returns



محاسب متخصص
03-10-2014, 08:21 AM
?DIFFERENCIATE PURCHASE RETURNS AND SALE RETURNS




PURCHASES RETURNS

The purchaser after having purchased the goods returns some of the goods to the seller on account of being defective perished or due to any other reason, these are called the purchases returns and are deducted from the gross amount of purchases while preparing profit and loss account.

SALES RETURNS

The seller to whom the goods have been returned treats this return as sales return because something has been returned to him which he had sold to purchaser. Similarly this figure should not be part of your revenue and hence is deducted from the gross figure of sales.