Recording Purchase Discount

I just bought some equipment on credit.
Although I didn’t ask, my supplier gave me a discount on total invoice amount.

What would be the proper way to record this discount?

Fundamentally, the discount is just a reduction in price. But how you account depends on how you are treating the purchases. Allocate to some equipment expense account if treating as a current expense. Allocate to Fixed Assets and appropriate subaccount(s) if planning on depreciating the expense over time. Read the Guide below:

If this will be lumped as a current expense, just enter the reduced amount of the purchase. If dividing up into separate fixed assets, prorate the discount among the individual items.