discount
This query is : Resolved
15 January 2011
Hello
please help me to make entry of addl discout recevied. we get every month addl discount on products. compay deducted that amount from our cheque amount. I have made journal entry
Addldiscount A/C DR
To company A/c
But in ledger that addl discount amount showing as payable.
please help me to make entry of addl discout recevied. we get every month addl discount on products. compay deducted that amount from our cheque amount. I have made journal entry
Addldiscount A/C DR
To company A/c
But in ledger that addl discount amount showing as payable.
15 January 2011
AS PER YOU QUESTION , IF COMPANY DEDUCTED THE AMOUNT FROM YOUR CHEQUE, IT MEANS YOU ARE GIVING ADDITIONAL DISCOUNT ,NOT RECEIVING.
ENTRY WILL BE MADE
BANK A/ C DR
REBATE & DISCOUNT DR
TO PARTY NAME.
YOU WILL CLAIM THIS ADDITIONAL DISCOUNT AS EXPENSES IN P & L A/C
ENTRY WILL BE MADE
BANK A/ C DR
REBATE & DISCOUNT DR
TO PARTY NAME.
YOU WILL CLAIM THIS ADDITIONAL DISCOUNT AS EXPENSES IN P & L A/C
15 January 2011
Bijender i believe even bank is not relevant for taking the debit it should only be
Discount Dr and Customer Cr..
The amount is directly deducted from the cheque that is being given
Discount Dr and Customer Cr..
The amount is directly deducted from the cheque that is being given
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