Write the difference between return inwards and return outwards
The difference between return inwards and return outwards is explained based on the below factors:
Return inwards is defined as the receipt back of the goods by the seller which is originally sold to the buyer because of excess goods or defective goods.
While return outwards is defined as the return back of the goods by the buyer to the seller from where the goods were initially purchased.
The recording of return inwards is done in the books of account of the seller.
Whereas the recording of return outwards is done in the books of the account of the buyer.