Here discount on purchases is income which was mentioned as expense. Debit discount is expense the credit discount or discount on purchase is always income
of course discount on purchases is not income,income is the money received through selling of product,inventory or providing services.check the definition!
Hi! Assume this gym has two outlets. I made purchase of 10 yoga mats, of which outlet A got 7 mats and outlet B got 3 mats. How do I record these purchase? Thks
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Great Teaching in details. Thanks
very beneficial
Here discount on purchases is income which was mentioned as expense. Debit discount is expense the credit discount or discount on purchase is always income
+rana muhammad amir altaf it is considered a negative or contra account as an expense.
of course discount on purchases is not income,income is the money received through selling of product,inventory or providing services.check the definition!
Hi! Assume this gym has two outlets. I made purchase of 10 yoga mats, of which outlet A got 7 mats and outlet B got 3 mats. How do I record these purchase? Thks
hmmm that sounds like homework :)
@@ANISEConsulting in this case she must create two different companies A & B and record the purchases respectively please correct me if i am wrong ??
@@hurt179 no - jobs or warehousing feature could be used to distinguish it. You only create separate files for separate businesses.