Home For AAT student members AQ 2013 AAT Level 4 (Level 8 in Scotland)

Returns inward and Returns outward

Adele69Adele69 CambridgeAAT Student Posts: 320
I probably should know this by now but are these

Returns inward = Sales Returns? deduct from Sales Revenue?
Returns outward = Purchase Returns? deduct from Purchases?

Comments

  • Golebatax123Golebatax123 Registered Posts: 54
    return inwards deduct from sales revenue and returns outwards deduct from purchases
  • Adele69Adele69 CambridgeAAT Student Posts: 320
    Thanks, I'm relieved as I recently saw this but won't know if I got it right or not. I'm sure when I did L2 a couple of years ago with Osbourne Books that there were Sales, Sales Returns, Purchases and Purchase Returns. It's a real pain that accountancy has so many alternative terms
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