Clarification on the returns account for sales and purchases and its existence in the chart of accounts, as there is no separate account for returns in the chart of accounts.
Details
-
Sales Returns are deducted directly from the Sales account
-
Purchase Returns are deducted directly from the Purchases account
-
It is not possible to create a separate account for them in the chart of accounts
How to View Returns
-
Sales Returns
-
From the Tax Credit Memos report
-
-
Purchase Returns
-
From the Tax Debit Memos report
-
Important Notes
-
Make sure you select the correct period in the report
Search keywords:
- Where can I find the sales and purchase returns accounts in the chart of accounts?
