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HMRC internal manual

Enquiry Manual

From
HM Revenue & Customs
Updated
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Examining Accounts: Accounting Systems: Returns Books

Returns, of sales to the business or of purchases by the business, may be recorded in their own day books or in separate columns in the purchases and sales day books. They are, in effect, minus entries for earlier purchases and sales, and reverse the double-entry in the relevant ledger account and the nominal ledger.