Returns inward and Returns outward

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

  • Golebatax123
    Golebatax123 Registered Posts: 54
    return inwards deduct from sales revenue and returns outwards deduct from purchases
  • Adele69
    Adele69 AAT 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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