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Returns Proforma Invoice Yoox

Returns Proforma Invoice Yoox

Use a Returns Proforma Invoice Yoox template to make your document workflow more streamlined.

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Instructions and help about returns proforma

Hey! I'm Jonathan Wild and we are going  to cover how to record purchases with   returns and allowances. An allowance  is a price reduction to the buyer.   This is kind of like if we ordered a shipment of  shoes and some arrive with scuff marks. We call the   supplier and they offer us a price reduction or  allowance to keep the shoes instead of shipping   them back for a refund. We get compensated for  the damage and the supplier avoids a full refund.   Now, let's run through an example on how to  account for an allowance. Assume we purchase   merchandise to resell and a few days later we  noticed that some of the merchandise is defective.  When we talk to our supplier, they  give us an allowance of $120.  The allowance reduces the Accounts Payable and  the amount we owe to the supplier. We record the   $120 allowance with a debit to Accounts  Payable and a credit to Merchandise Inventory.   We record a credit, and decrease to Inventory  be

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