sales_credit:sales_exchange-local
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Table of Contents
Sales Discount - Local
- Approve
- POST to GL
- Settlement
Approve (Sales Discount - Local)
When a local sales discount is approved, the Trade debtor – control A/C's sub account's credit available will be added the discounted amount of money.
POST (Sales Discount - Local)
When a Local Sales discount is posted to GL, the following accounting entries are created.
| GL Interface Type/[Account] | Account Usage | Sub-account | Currency | Dr | Cr | Notes |
|---|---|---|---|---|---|---|
| STOCK IN HAND | Ledger | Prime | Actual Cost | |||
| COST OF SALES | Ledger | Prime | Standard Cost | |||
| COMMISSION PAID | Ledger | Prime | (SalesPrice-Discount)*Commission%/100 | |||
| SALES DISCOUNT | Ledger | Prime | Discount | |||
| SALES | Ledger | Prime | SalesPrice | |||
| GST-OUTPUT TAX (Sales) | Tax | Prime | (SalesPrice-Discount)*Tax Rate/100 | |||
| TRADE DEBTOR - CONTROL A/C | AR | Customer - Account | Prime | (SalesPrice-Discount) + Tax | ||
| COST OF SALES variance | Ledger | Prime | Standard cost - Actual cost | If actual price is less than the standard price, then cost of sales variance is CR | ||
| TRADE CREDITORS- CONTROL A/C | AP | Supplier - Account | Prime | (SalesPrice-Discount)*Commission%/100 |
/srv/www/htdocs/wiki/data/attic/sales_credit/sales_exchange-local.1406261954.txt.gz · Last modified: 2014/07/25 04:19 by redwana
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