I am small shopkeeper with a basic knowledge of accounts. I maintain my accounts business books.
I started using AJIO business recently. It offers promotional cash discount in every transaction. Such discount is not mentioned in invoice.
Moreover AJIO bill amount can be divided in 2 parts - 20% of the order amount has to be paid in advance and the remaining balance has to be paid later.
- what would be the entries of promotional cash in books of accounts?
- could I do entry of Advance payment and balance collectively
- Instead of writing each discount entry individually, Could I write promotional cash / discount received from all the transactions collectively of each month? As advance and balance amounts of 2-3 bills are sent collectively
For example I am posting a copy of one online receipt
Total Payable Amount : ₹13,651.36
Payment Term : Pay Before Delivery
Total Advance
₹2,730.27
Advance Paid :
₹2,730.27
Promotional Cash :
₹273.03
Cash :
₹2,457.24
Advance Pending :
₹0.00
Total Balance
₹10,921.09
Balance Paid :
₹10,921.09
Promotional Cash :
₹1,092.11
ONLINE :
₹9,828.98
CAclubindia
