Search
Generic filters

Purchase Return Book Excel Template

Purchase Return Book Template is a ready-to-use template in Excel that helps you to easily manage and record purchase return transactions.

Return Outward is Purchase Return

Return Outward Book is a subsidiary book of accounts that records the goods returned to the suppliers. It is also named as return outward book.

Usually, when poor quality, inaccurate quantity, untimely delivery goods are received, we return these goods to the suppliers. Purchases returns are a normal part of the business.

You need to post the Purchase Return entries on daily basis to individual’s account. Post these entries to the debit side of the supplier’s account in creditor’s ledger. This helps the creditor’s account to stay update.

Purpose of Book

The important purpose of the return outward book is to record the goods return transactions for purchases made on credit.

A company returns goods because:

  • Either the goods are defective.
  • Goods might have damage during the transit.
  • Quantities differ against mentioned in the invoice.
  • Late deliveries.
  • The quality difference of agreed samples or specifications.
  • Goods aren’t according to the agreement.

Thus, the buyer issues a debit note for goods returned. However Every entry in this book is written on the basis of debit notes issued by us to suppliers.

What are Debit Notes?

Consequently Debit Note is a document that debits the account of the supplier along with purchase returns. Additionally, the debit notes are goods return invoices that contain the details such as quantity, product details, reasons for return, etc.

Therefore, the supplier’s account is debited in the books of account. The supplier credits our account in his books of accounts.

Furthermore, regular maintaining of purchase return records helps us to avoid discrepancies in creditor’s accounts. The amount of Accounts Payable decreases whenever a purchase return is line.

Journal Entries of Purchase Return

Return of goods is record in books of accounts with the following journal entries:

Particulars Amount
Creditors A/C  Debit
To Purchase Return A/C  Credit

 

Download Purchase Return Book Excel Template
Share on facebook
Share on linkedin
Share on email
Share on whatsapp

Download Guide

Compatible with : Microsoft Office Excel, Libra Office, WPS Office, Google WorkSheet
  • Download The Template XLSX File Format
  • Use the Template

Download Instruction :

All Excel templates and tools are sole property of xlsxtemplates.com. User can only download and use the excel templates for their Personal use only. All templates provided by XLSX templates are free and no payment is asked. However, you are not allowed to distribute or share in any other website for sole purpose of generating revenue from it.

 You can also download and use our 1000 Best PowerPoint Presentation Templates and 500 Resume Samples from PPTXTemplates.com  Completely Free. All our templates are designed by Professionals

Recently Uploaded Excel Templates: