DISCOUNT ON DEBTORS

DISCOUNT ON DEBTORS

When a businessman provides discount to his debtor then it is called Discount on Debtors. It comes under Indirect Expenses.

Example:-

Goods sold to Mohan for Rs. 50,000. 5 % discount given to him.

Do all the voucher entries.

To maintain:-

Create a company and then create ledger as follow:-

Path for ledger creation:- G.O.T. (Gateway of Tally)--> accounts info--> ledger--> create (multiple).

After that, do voucher entry as follow:-

Path for voucher creation:- G.O.T. (Gateway of Tally)--> accounting voucher--> F8(Sales Voucher).

Now view the profit & loss report:-

Path for view profit and loss report:- G.O.T. (Gateway of Tally)--> Profit & Loss a/c.

Now calculate discount received by the debtor as given below:-

Discount = 50,000 * 5 % = 2,500

So, the discount is Rs. 2,500.

Now do adjustment entries:

Create adjustment ledger as follow:-

Path for adjustment ledger creation:- G.O.T. (Gateway of Tally)--> accounts info----> ledger--> create (single).

And then do voucher entry:-

Path for adjustment voucher creation:- G.O.T. (Gateway of Tally)--> accounting voucher--> F7(Journal Voucher).

View the profit and loss report:-

Path for view profit and loss report:- G.O.T. (Gateway of Tally)--> Profit & Loss a/c.

For more information press “Alt + F1”.