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How to treat the sales returns of previous years?

Accounting Auditing Financial Accounting
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Question added by FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials
Date Posted: 2015/05/10
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Mohammad Zaid abu odeh
by Mohammad Zaid abu odeh , Senior Accountant , Mega Food Industries And Products Exports L.L.C

Make a Sales return voucher (Credit Note to Customer), it Will Reduce the sales amount for current yaer

Vinod Jetley
by Vinod Jetley , Assistant General Manager , State Bank of India

1st we have to increase the stock of such goods in current yr n such sale return to be treated as prior period item

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