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 |
|---|---|---|---|---|---|---|
| TRADE DEBTOR - CONTROL A/C | AR | Customer - Account | Prime | Discount | ||
| SALES DISCOUNT | Ledger | Prime | Discount |
SETTLEMENT Sales Discount - Local
Once the sales discount is settled, Trade debtor – control A/C's sub account's credit available will deduct the discouted amount of money and the following accounting entries are created.
| GL Interface Type/[Account] | Account Usage | Sub-account | Currency | Dr | Cr | Notes |
|---|---|---|---|---|---|---|
| CASH AT BANK | Bank | Prime | Discount | |||
| TRADE DEBTOR - CONTROL A/C | AR | Customer Account | Prime | Discount |
Examples
Local Sales: Say, Discount=SGD5.00, Customer=CUS-000001.
/srv/www/htdocs/wiki/data/attic/sales_credit/sales_exchange-local.1406262785.txt.gz · Last modified: 2014/07/25 04:33 by redwana
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