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Treatment for wrong booking of sales

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Querist : Anonymous

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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?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
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

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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

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CMA Ramesh Krishnan (Expert)
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
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