Material Return Note
Usually, the materials that are obtained for a specific job are not fully consumed or they are drawn in excess of requirements. The excess quantity is returned to the stores, together with a material return note.
The storekeeper should place the returned materials in the appropriate bin. In turn, a record of the materials should also be entered into the “In” or “Received” column of the bin card.
Format of Material Return Note
Material Return Note: Explanation
Two copies of the material return note are prepared. One copy is retained by the department that returned the materials and the other is kept by the storekeeper, who receives the note along with the materials returned.
Notably, a material return note is similar to material requisition. To avoid confusion, material return notes may be issued in red ink or printed on different-colored paper.
The material return note is forwarded to the costing office, where the rate and amount are entered. Additionally, the necessary credit for the value of the materials returned is allocated to the particular job.