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Sales Return-Flowchart

This document outlines the process for handling sales returns in an organization. It involves receiving the return from the customer, preparing necessary documentation like a return slip and credit memo, updating relevant records and journals in modules like sales, billing, inventory, accounts receivable and general ledger. Finally, a credit memo voucher is generated to complete the sales return process.

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kate trisha
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1K views1 page

Sales Return-Flowchart

This document outlines the process for handling sales returns in an organization. It involves receiving the return from the customer, preparing necessary documentation like a return slip and credit memo, updating relevant records and journals in modules like sales, billing, inventory, accounts receivable and general ledger. Finally, a credit memo voucher is generated to complete the sales return process.

Uploaded by

kate trisha
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
  • Accounts Receivable Process: Describes the procedures for reconciling accounts receivable, including updating ledgers and generating summaries.
  • Sales and Billing Process: Details procedures for preparing credit memos and updating journal vouchers, interfacing with sales and return allowances.
  • Receiving Process: This section covers the initial steps of preparing a return slip and verifying sales and returns, focusing on customer interactions and document preparation.
  • Inventory Control Process: Focuses on updating inventory records and maintaining control over stock levels, involving reconciliation with inventory documents.

Verification of

Customer Prepare Return Return


sales order and
RECEIVING Return Slip Slip Slip
sales return

Return Prepare Credit Credit


SALES Slip Memo Memo

Update A
Credit Credit Memo
Journal Journal
Memo
BILLING Voucher B

Sales and Return


Allowances

C
Credit Update Inventory Credit Memo
INVENTORY A Memo Records Journal
CONTROL B
Voucher

Inventory

Accounts
Credit Credit Memo Receivable
ACCOUNTS C Update Accounts
Memo Accounts Receivable
RECEIVABLE Receivable Records
Summary
B

Accounts Receivable Accounts Receivable


Summary Update General Summary
GENERAL Journal Voucher Ledger
Journal Voucher
LEDGER B Journal
Journal Voucher Journal Voucher Voucher
General ledger

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