Treatment for wrong booking of sales

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Querist : Anonymous

Querist : Anonymous (Querist)

25 August 2013 What is the accounting treatment for wrong booking of sales( caused due to either rate change, discount not applied etc)?

Whether a sales returns entry should be passed or the sales should be debited?or is there any other treatment?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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25 August 2013 you can make the separate debit note and debit the sales and credit the customer a/c

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Querist : Anonymous

Querist : Anonymous (Querist)

25 August 2013 thanks

so is the treatment of reversing the sales by making a sales return entry wrong?

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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25 August 2013 sales return is returning the goods to seller. sales difference due to discount, rate difference, rate change only debit or credit note can be done