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Ask Bryan Cheong – SQL Accounting System – Document Discount

Accounting System Software - Syntax Technologies

Ask Bryan Cheong – SQL Accounting System – Document Discount

In any kind of business, giving out discount is a normal practice. But behind the screen you must understand it involve proper accounting posting.

The first step is to determine whether you want to post the Discount amount as Sales Adjustment – Discount Allowed or just minus out from Sales Account. Then you also need to decide whether it is an item level discount or it is a document discount. Some of you may ask, is it make a big different? My answer is “YES” . First thing, in SQL Accounting System, Item level discount can only minus from Sales  account and not Discount Allowed, it is more significant when it involve Stock Costing as Document Discount will not affect Stock Cost which to certain people, it become “Not So” accurate. That’s why normally, I will teach user just use item discount. But different people may have different requirements.

In this example, I’ll be using Discount  Allowed Account for accounting posting purpose.

First, log into your SQL Accounting System, and make sure Discount Allowed is available under Sales Adjustment in your Chart of Account(GL->MAINTAIN ACCOUNT).

Then create a Stock Group with Title “DISCOUNT” by using Discount Allowed as Sales, Cash Sales and also Sales Return Account Code(Stock->Maintain Stock Group).

Then, you need to create an item call DISCOUNT, untick Stock Control Option and select Stock Group->DISCOUNT(STOCK->MAINTAIN STOCK ITEM)




When key in Sales Transaction such as Sales Invoice, key in discount amount in negative, by selecting the “DISCOUNT” item.

Select the Customised Document Format and You got it!

For those user who need to have Document Discount in your Sales Document .You may contact us for this customisation and charges will apply accordingly.

Consultant Incharge : Mr Houston Pang

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SQL Accounting System & SQL Payroll System
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