Turnover........what counts

[goodgrief]

Hi,

This is probably a easy question to answer:-

If I sell a product and a customer says they have not received the product.........does the sale still count as turnover?

I would have to credit the customer in the end so is the refund taken back from the turnover as a minus.

In a nutshell.......if I credit the customer the turnover is not added to that sale....please confirm...e.g product bought for is £10........I then credit £10 back...turnover = £0 or is it £10.

Replies much appreciated as always...........thanks for your help all.

[Big Pete]

Hi,

This is probably a easy question to answer:-

If I sell a product and a customer says they have not received the product.........does the sale still count as turnover?

I would have to credit the customer in the end so is the refund taken back from the turnover as a minus.

In a nutshell.......if I credit the customer the turnover is not added to that sale....please confirm...e.g product bought for is £10........I then credit £10 back...turnover = £0 or is it £10.

Replies much appreciated as always...........thanks for your help all.

0 is correct

[Barry]

I would have thought you would be -£10 (or cost of product) as you have had to pay for the product thats been lost.

Ta

Baz

[RawRob]

In my understanding the turnover is £10.

(Turnover is not profit. Turnover is the total amount of money passing through your business, even if it is refunded it should still be part of your turnover.)

Rob

[getnoticed]

Turnover is different than credits and stock, therefore 3 figures apply

Turnover = 10
Credits = -10
Stock = -10

You don't mention how you tried to deliver the goods to the client
Did you use Royal Mail 1st Class or 2nd Class? If so, did you obtain a certificate opf posting (if the goods were of a low value) as you may be entitled to compensation under that scheme.