Andrew Dalgleish writes: > I want to offer my customers a discount for early payment. If I set up > an expense account to make partial payments I end up paying (.au) GST on > the full invoice.
When you receive a payment that properly takes a discount Accounts Receivable should be credited for the full amount of the invoice. Cash should be debited for the amount paid and Sales Discounts[1] debited for the amount of the discount. If the sale was taxed the latter debit should be divided appropriately between Sales Discounts and Sales Tax. > I want the discount to apply to the pre-tax amount. [1] Sales Discounts used to be an expense but now it seems to be a contra-revenue account. -- John Hasler [EMAIL PROTECTED] Elmwood, WI USA ------------------------------------------------------------------------- Using Tomcat but need to do more? Need to support web services, security? Get stuff done quickly with pre-integrated technology to make your job easier Download IBM WebSphere Application Server v.1.0.1 based on Apache Geronimo http://sel.as-us.falkag.net/sel?cmd=lnk&kid=120709&bid=263057&dat=121642 _______________________________________________ sql-ledger-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/sql-ledger-users
