–Pushpender Kumar Academic Content Writer at Edumarz
Sales Return Book is a book in which all sales returns are recorded by the customer to the firm which had been sold on credit.
Sales Return Book is also known as Returns Inward Book.
On every sales return, a credit note is issued by the firm (supplier,).
A credit note is a source document for recording entries in the Sales Return Book.
There are following things are mentioned in the Credit Note:
Name of the customer.
Details of returned goods by customer.
Amount of returned goods, etc.
Credit Note also prepared duplicate as a debit note.
There is a small difference between Debit notes and Credit notes. Debit Note is prepared by the buyer and a Credit Note is prepared by the seller.
Sales Return Book has the following columns :
Date
Credit Note No.
Name of customer
L.F. (Ledger Folio)
Amount