how to do discount entry... in tally or other account software

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lalit jain (Querist)
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29 December 2016 for example- i sold the goods of Rs.30000 and after 30 days received amount of 25000... that mean party discount Rs.5000. so how to do discount entry on accounting software... remember - bill already send to party.. that mean i never discount in sale bill..... so answer me :)

Sandeep Dharar

Sandeep Dharar (Expert)
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29 December 2016 No buyer can enjoy discount unless its mentioned in the invoice or mutually agreed between the parties. So U must ask them regarding short payment.

lalit jain

lalit jain (Querist)
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30 December 2016 we both understand. about to discount and i don't have problem with that. i jist want to know how can i entry in accounting software like - tally

Mithun Agarwal

Mithun Agarwal (Expert)
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30 December 2016 By Bank/Cash A/c.....Dr. 25000.00
By Discount A/c.........Dr. 5000.00
To Party A/c 30000.00

lalit jain

lalit jain (Querist)
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30 December 2016 where ? in recept voucher or journal?

Mithun Agarwal

Mithun Agarwal (Expert)
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30 December 2016 In receipt voucher you can do this entry.

Sandeep Dharar

Sandeep Dharar (Expert)
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30 December 2016 Do the Entry like this:-

At the time of sale:-
Debtors Dr. Dr. 25K
Dis. Allowed Dr. 5K
To sales 30K

At the time of receipt
Bank Dr. 25K
To Debtors 25K

Mithun Agarwal

Mithun Agarwal (Expert)
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30 December 2016 yes this is also correct but in query you mention that you have sent sale invoice to party before given discount allowed.

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