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When goods are returned after a sale, the entry in the books of accounts is a debit to the Sales Returns account and a credit to the Accounts Receivable account.
Create a Sales Returns account to record returns
Debit the Sales Returns account to increase it
Credit the Accounts Receivable account to decrease it
Include details of the returned goods in the entry
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I applied via Referral and was interviewed before Mar 2021. There were 3 interview rounds.
I applied via Recruitment Consultant and was interviewed before Sep 2020. There were 4 interview rounds.
Accrual account is a type of account that records revenue or expenses that have been earned or incurred but not yet received or paid.
Accrual accounting recognizes revenue and expenses when they are earned or incurred, regardless of when the cash is received or paid.
Accrual accounts are used to record these transactions until they are paid or received.
Journal entry is the process of recording a transaction in the accoun...
Reconciliations involve comparing financial records to identify discrepancies and resolve them.
Reconciliations are important for ensuring accuracy in financial reporting.
The process involves comparing two sets of records, such as bank statements and accounting records.
Any discrepancies are identified and investigated to determine the cause.
Examples of reconciliations include bank reconciliations, accounts receivable re
I applied via Recruitment Consultant and was interviewed in Mar 2021. There were 3 interview rounds.
I applied via Referral and was interviewed in Feb 2020. There were 4 interview rounds.
I applied via Naukri.com and was interviewed before Dec 2020. There were 3 interview rounds.
I applied via Approached by Company and was interviewed before Jul 2021. There was 1 interview round.
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Area Sales Manager
3
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| ₹3.6 L/yr - ₹3.6 L/yr |
TCS
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