Hi there, I was just wondering if someone could help me in regards to a discounts allowed expense account. When I give a discount in a sales invoice and receive the money (less discount) it does not seem to reflect the discount anywhere. Any help would be much appreciated
Discount column on invoice (if used) will simply reduce the line item total. Discount amount doesn’t get posted anywhere as an expense.
So in other words, discount is reflected on sales invoice but it’s not reflected on financial statements.