04 December 2012
regarding trade discount(discount received) in tally: as trade discount should not be recorded in books ,creating a ledger under indirect income is right or not in bill discount was deducted as a total but not per product bill-71310 -discount33310 +packing 2000 =payment 40000
04 December 2012
As the trade discount amount of Rs. 33310/- is substantial, it is better to create ledger account under indirect income group in Tally.
04 December 2012
recording TRADE discount as indirect incomes ?? even it is substantial is that correct can trade discount be recorded in books is there any other way in tally regarding trade discount
04 December 2012
If you are purchasing regularly and trade discounts are given whether on single product or various products , it is better to show or disclose separately.
Further, such transactions may be decided for accounting on gross or net basis as per the company policies.
CAclubindia
