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Purchase Return Book
Published By manas on 2011-03-05 76 Views

Purchase Return Book  is used for the purpose  of recording the returns of merchandise purchased on credit, it records neither the return of goods purchased on cash basis nor the retun of any asset other than the merchandise.  Enteries in the purchase return book are made on the debit notes issued to the suppliers. 

Debit note is issued or prepared by the purchaser containing the date of return, name of the supplier to whom the goods have been returned, details of the goods returned, reasons for returning the goods.  Generally the information  is provided in this book date of return, debit note number, name of supplier, page number of the ledger on which supplier's account appear and amount of goods returned.

Individual amounts are daily posted to the debit of supplier's accounting  by mentioning "To purchase Returns A/c" in the particulars column.  Periodic total is posted to the debit of Purchase Returns Account by writing `By sundries as per Purchase Return Book' in the particulars book.

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