Last year Sales Return after finalisation of BS

Pravin Deokar (Service) (53 Points)

16 July 2011  

Dear Members,

How to book Sales returnin current FA year which is sold in previous or its previous FA year?

Example: -

In FA 2009-10, We have booked sale od Rs. 5000 and its COGS was Rs. 3000. And customer returned complete goods in FA 2011-12. What are the entry / Entries needs to be passed to adjust sales return transaction.