Hello
I wanted to check with the community , applying a discount after invoice is raised(submitted) can be handled on payment. Question is do I submit it to the write off account or should I create a discount account in the COA to post the discount. If creating a discount account in COA is best practice then would that be an indirect expense setup just like the write off account in the COA.
Hello
So i have tested the discount\write after invoice submitted and found the following:
- To show the difference in the payment entry you have to make the “allocated” amount same as the total owing.
- After submitting the ledgers look correct in the payment entry and outstanding amount is now zero.
- However in the actual General Ledger of the said party , the full payment amount reflects and not the amount after write off, yet on the same line the reference shows that the said party has paid the amount after write\discount.
Any members experience the same or is it just me ?