Coupon Accepted Successfully!


Purchase Returns Book

  • The Purchase returns book is a subsidiary book which
  • records return of goods purchased on credit
  • does not record return of goods purchased on cash
  • does not record return of any asset purchased

The entries in the Purchase returns book are made on the basis of debit notes issued to the suppliers or credit notes received from the supplier.

Periodically, the total of Purchase returns book is transferred to Purchase returns account.

Debit Note

A debit note is a document which debits the account of the party to whom it is sent. It is generally sent with Purchase returns. It shows the details of the amount with which the supplier is debited. It is in the form of an invoice. The party who sends it becomes a creditor and the party to whom it is sent becomes a debtor. In other words, debit note is sent when one party debits in their books of account the other party’s account. Along with the defective goods, the buyer sends a debit note to the seller informing him that he has debited the seller’s account with the amount of the goods returned. By sending the debit note, the buyer reduces his liability towards the seller. The usual contents of the debit notes are serial number, name and address of the sender (buyer), date of issue, name and address of the receiver (seller).


Buyer to Seller

Seller to Buyer

On purchase returns

When the buyer is charged less

When the buyer is overcharged  

Test Your Skills Now!
Take a Quiz now
Reviewer Name