DISCOUNT ON CREDITORS

When a businessman gets discount from his Sundry Creditors then it is called Discount on Creditors. It comes under Indirect Income.

Example:-

Goods purchased from Raman for Rs. 80,000. 10 % discount received from him.

Do the voucher entries.

To maintain:-

Create a company and then create ledger as follow:-

Path for ledger creation:- G.O.T. (Gateway of Tally)--> accounts info--> ledger--> create (multiple).

After that, do voucher entry as follow:-

Path for voucher creation:- G.O.T. (Gateway of Tally)--> accounting voucher--> F9 (Purchase Voucher).

View the profit & loss report:-

Path for view profit and loss report:- G.O.T. (Gateway of Tally)--> Profit & Loss a/c.

Now calculate discount given by the creditor as given below:-

Discount = 80,000 * 10 % = 8,000

So, the discount is Rs. 8,000.

Now do adjustment entries:

Create adjustment ledger as follow:-

Path for adjustment ledger creation:- G.O.T. (Gateway of Tally)--> accounts info--> ledger--> create (single).

And then do voucher entry:-

Path for adjustment voucher creation:- G.O.T. (Gateway of Tally)--> accounting voucher--> F7 (Journal Voucher).

View the profit and loss report:-

Path for view profit and loss report:- G.O.T. (Gateway of Tally)--> Profit & Loss a/c.

For more information press “Alt + F1”.