Trade discount of previous financial year

Accounting Entries 333 views 1 replies

Dear CA Freinds

I would like to seek your valuable suggestion on below

1. We have received special quantity discount (have material impact on bottom line)  from one of our suppliers, during current financial year (but supplies of previous year)

2. Our budgeted profit will be affected, if we account the same in current year

3. We are not in a position to re state our previous financials

Kindly advise how to deal with it

 

Regards

Murthy

 

 

 

Replies (1)

Put it in discount receivable account in debit and credit to the supplier account with worth of materials.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details