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How to account for Ad hoc discounts and their tax implications?

edited Oct 20, 2022 10:45PM in Ask A Guru 2 comments

Hi There

i have a customer that short pays their invoices every month.

This is not anticipated so no prompt payment discount is created at the time of raising the invoice.

Is there a way to split the discount you have given to a customer into the tax component and the profit & loss component?


For example:

there is a $500 discount that is being given to a customer on an invoice worth $381.26


This was not anticipated when the invoice was raised,. Essentially it is just allowing the customer to short pay.


Is there a way to split this $500 discount into tax and 'sales discount GL' component?

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