Discount allowed and received

1

When creating invoice the system allow user to select for discount in amount or percentage but what if I want to know the total amount of discount received from supplier and total discount allowed to customers in a particular period

2

Please search the forum before you post a question. You should also read the guides here Guides | Manager

3

In that case, do not use the discount feature on line items of transaction forms. Instead, add separate line items, posted to accounts for Discounts offered and Discounts received income and expense accounts. Enter unit prices on those lines as negative numbers. The accounts will function as contra accounts.

Be careful to apply the same tax codes to every such line item as you do to their undiscounted counterparts, or you will end up with erroneous tax liability balances. If you have multiple tax rates on a transaction, you will need a separate discount line item for each one.

If you have inventory, this will also distort your inventory values and cost of goods sold, because full costs will be used for the Inventory on hand and Inventory - cost accounts. As a result, you would require correcting entries every accounting period, broken down by inventory item.

Overall, my recommendation is not to do this, as it would demand tremendous discipline to get everything right and quite a bit of extra work. Maybe someone else will think of another way to obtain this information.

4

Thanks boss

5

go to setting >custom field and make a custom field named ‘discount’ in sales invoice and also check the box which says ‘show custom field as column’…Now whenever you provide discount in any sales invoice then fill that custom field too…Now if you go to sales invoices list and export those to excel sheet, you can see all the discounts given in a column named ‘discount’ as you would see in the list of sales invoices in Manager.
Now you can total the datas in the column and know the total discount given by you.
that is how I make do till date ,I am a new user to Manager though.
I hope that helps. Good luck.

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