Discussions

Check out Oracle NetSuite upcoming events and conferences here
Now is the time to ask your NetSuite-savvy friends and colleagues to join the NetSuite Support Community! Refer now! Click here to watch and learn more!
Update your Profile with your Support type to get your Support Type badge.
Expand your NetSuite knowledge by joining our Ask A Guru Live sessions. RSVP on this event now.
Don't miss out on our Question of the week! You only have until tomorrow, July 25, 2024, 2PM ET to comment your answers and earn rewards! Click here for more details.
Community Poll: What sort of content would you like to see more of?
Get ready to take on exciting new challenges and become the next SuiteMaster of the Month!

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?

Tagged:

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!

Leaderboard

Community Whiz

Quarter 3 (Jul-Sep 2024)

This Week's Leaders

This Month's Leaders

All Time Leaders