Topics
Introduction to Book-Keeping and Accountancy
- Accounting
- Book-Keeping
- Accountancy
- Book-Keeping vs. Accountancy
- Basis (Methods) of Accounting System
- Qualitative Characteristics of Accounting Information
- Basic Terms in Accounting
- Transaction
- Capital and Drawings
- Debtors, Creditors and Bad Debts
- Expenditure and Its Types
- Discount and Its Types
- Solvent Person vs. Insolvent Person
- Accounting Year
- Trading Concerns vs. Not for Profit Concerns
- Concept of Goodwill
- Fundamentals of Business Earnings
- Concepts of Assets, Liabilities and Net Worth
- Accounting Principles
- Accounting Concepts
- Core Accounting Concepts
- Accounting Standards
Meaning and Fundamentals of Double Entry Book-Keeping
Journal
- Accounting Documents
- Goods and Service Tax(GST)
- Types of Accounting Documents
- Voucher
- Tax Invoice (Under GST)
- Credit Memo
- Receipt
- Cheque
- Types of Cheques
- Books of Accounts
- Books of Accounts > Journal
- Journal Entries
- Journal Entries > Goods Account
- Journal Entries > Recording Discount in Journal
- Journal Entries > Other Important Journal Entries
Ledger
Subsidiary Books
- Concept of Subsidiary Books
- Cash Book
- Cash Book > Simple Cash Book (Single Column Cash Book)
- Cash Book > Two Column Cash Book (With Cash and Bank Columns)
- Cash Book > Petty Cash Book
- Simple Petty Cash Book
- Analytical Petty Cash Book
- Purchase Book
- Purchase Return Book
- Sales Book
- Sales Return Book
- Journal Proper
Bank Reconciliation Statement
- Accounting Documents Used in Banking
- Accounting Documents Used in Banking
- Pay-in-Slip
- Withdrawal Slip
- Bank Pass Book
- Bank Statement
- Bank Advice
- Concept of Virtual Banking
- Bank Reconciliation Statement(BRS)
- Cash Book vs Pass Book : Causes of Differences
- Time Difference(Regarding BRS)
- Errors and Omission Made by Bank or Businessman
- Formats of BRS
- Preparation of BRS
- Cash Book and Pass Book Comparison for Common Period
- Cash Book and Pass Book Balances for Different Periods
- Bank Balance as per Cash Book (Favourable / Debit Balance)
- Bank Balance as per Pass Book (Favourable / Credit Balance)
- Overdraft as per Cash Book (Unfavourable / Credit Balance)
- Overdraft as per Pass Book (Unfavourable/Debit balance)
- Reconciliation of Debtors and Creditors
Depreciation
Rectification of Errors
Final Accounts of a Proprietary Concern
Single Entry System
- Concept of Single Entry System
- Single Entry System vs. Double Entry System
- Parts of Single Entry System
- Statements of Affairs
- Statement of Profit or Loss
- Statement of Profit or Loss > Net Worth Method
- Practical Problems on Single Entry System
- Definition: Sales Return Book
- Process of Sales Return
- Format and Contents
- Example: Recording Transactions in Sales Return Book
Definition : Sales Return Book
The Sales Return Book is a special accounting book used to record goods that were sold to customers on credit but are returned to the business because they are not as ordered, damaged, or defective.
Process of Sales Return
Format and Contents
Format:
| Date | Name of Customer | Credit Note No. | L.F. | Amount (₹) |
|---|---|---|---|---|
Explanation of Each Column:
Date:
- Shows when the goods were returned by the customer.
Name of Customer:
- Records the name of the customer who returned the goods.
Credit Note No.:
- Shows the number of the credit note issued to the customer for the returned goods.
L.F. (Ledger Folio):
- Refers to the page number in the ledger where this entry can be cross-checked.
Amount (₹):
- States the value or amount of the goods returned by the customer,
Example : Recording Transactions in Sales Return Book
List of transactions to be recorded in the sales book of JKL Enterprises for January 2025
| Date | Name of Customer | Credit Note No. | L.F. | Amount (₹) |
|---|---|---|---|---|
| Jan. 5 | Pawan & Co. | 001 | 12 | 1,020 |
| Jan. 19 | Laxman Oil Mills | 002 | 14 | 4,250 |
In the books of JKL Enterprises
Sales Return Book
| Date | Name of Customer | Credit Note No. | L.F. | Amount (₹) |
|---|---|---|---|---|
| 5 January 2025 | Pawan & Co. | 001 | 12 | 1,020 |
| 19 January 2025 | Laxman Oil Mills | 002 | 14 | 4,250 |
| Total | 5,270 |
Dr. Sales Return Account Cr.
| Date | Particulars | L.F. | Amt (₹) | Date | Particulars | L.F. | Amt (₹) |
|---|---|---|---|---|---|---|---|
| 2025 January 31 | To Sundries as per Sales Return Book | 5,270 |
Dr. Pawan & Co.Account Cr.
| Date | Particulars | L.F. | Amt (₹) | Date | Particulars | L.F. | Amt (₹) |
|---|---|---|---|---|---|---|---|
| 2025 January 5 | By Sales Return A/c | 1,020 |
Dr. Laxman Oil Mills Account Cr.
| Date | Particulars | L.F. | Amt (₹) | Date | Particulars | L.F. | Amt (₹) |
|---|---|---|---|---|---|---|---|
| 2025 January 19 | By Sales Return A/c | 4,250 |
