how to do discount entry... in tally or other account software
This query is : Resolved
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 :)
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.
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
30 December 2016
By Bank/Cash A/c.....Dr. 25000.00
By Discount A/c.........Dr. 5000.00
To Party A/c 30000.00
By Discount A/c.........Dr. 5000.00
To Party A/c 30000.00
30 December 2016
where ? in recept voucher or journal?
30 December 2016
In receipt voucher you can do this entry.
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
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
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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