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Account type - Contra revenue accounts such as sales allowance, discount

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Jul 23, 2021 10:22AM edited Jul 23, 2021 10:43AM in Receivables & Collections

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Hi Team

What should be the account type of contra revenue account? Can it be defined as a revenue account as it usually has a debit balance. Please advise.

Thanks

Vicky

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.logo { width: 120px; height: 28px; opacity: 0.6; } .header-container { height: 50px; background: #302D2A; } .logo-container { position: absolute; display: flex; color: #fff; left: 130px; top: 10px; } .logo-container p { margin: auto; padding-left: 20px; } .titleBar-button_fmuucnv.titleBar-button_fmuucnv, .titleBar-button_fmuucnv.titleBar-button_fmuucnv:hover:not(:disabled), .titleBar-button_fmuucnv.titleBar-button_fmuucnv:focus, .titleBar-button_fmuucnv.titleBar-button_fmuucnv:focus:not(.focus-visible), .titleBar-button_fmuucnv.titleBar-button_fmuucnv:active:not(:disabled), .titleBar-button_fmuucnv.titleBar-button_fmuucnv.isOpen, .titleBar-button_fmuucnv.titleBar-button_fmuucnv.isOpen:focus, .titleBar-button_fmuucnv.titleBar-button_fmuucnv.isOpen.focus-visible { color: #fff !important; } .footbar-container { height: 80px; } .footbar-subcontainer { position: relative; height: 80px; background: #CEAA8F; display: flex; align-items: center; justify-content: center; } .footbar-subcontainer p { color: #302D2A; font-size: 20px; margin-right: 10px; } body { font-family: Oracle Sans; } .About.P { background-size: cover; background-image: url(https://us.v-cdn.net/6032253/uploads/815/QURW3A01AKVP.png) } body.Section-Profile .ProfileOptions .ButtonGroup a { background: #302D2A; border-radius: 50px; color: #fff; } body.Section-Profile .Profile dd, body.Section-Profile .Profile dt { color: #100F0E; } .BreadcrumbsBox .Breadcrumbs a { color: #302D2A; font-family: Oracle Sans; } .BreadcrumbsBox { max-width: 1264px; padding-left: 40px; padding-right: 40px; margin: 0 auto; } .ReactionsWrap.H { color: #100F0E; font-weight: 800; } body.Section-Profile .CountItemWrap { width: 95px; margin: 14px; } body.Section-Profile .CountItemWrap .CountTotal { color: #A1ADAF; font-family: Oracle Sans; font-style: normal; font-weight: normal; font-size: 48px; } body.Section-Profile .CountItemWrap .CountLabel { font-family: Oracle Sans; font-style: normal; font-weight: normal; font-size: 16px; } .BoxFilter ul.FilterMenu li.Active a{ background: #302D2A; color: #fff; padding: 5px; } .BoxFilter ul.FilterMenu li a{ font-family: Oracle Sans; font-style: normal; font-weight: 600; font-size: 17px; color: #41727E; } @media screen and (max-width: 768px) { .logo { margin: 0 auto; } } @media screen and (max-width: 480px) { .footbar-container { height: auto; } .footbar-subcontainer { display: block; height: auto; } .footbar-subcontainer p { font-weight: bold; font-size: 26px; line-height: 34px; color: #fff; padding: 20px; } }