Posting discout to separate account

[former_member962390]

Dear Experts,

I would like to post discounts applied at invoice level to a separate gl account instead of netting it off to the revenue account. I know it can be done from the incoming payment but is it possible to do this on the invoice level ?

Thanks !

[kenan_jaddeny]

you can achieve it from the G/L Account Determination, defining all the required accounts for dicounts and other stuff,

The system checks if there are any rules defined for these accounts in the G/L Account Determination window. If not, the accounts are taken from the company level - G/L Account Determination window. If there are rules defined for the necessary accounts, the system goes to the Advanced G/L Account Determination Rules window and looks for the appropriate rule. The system checks if the document criteria match any of the advanced rules criteria. If so, it picks the advanced rule with the highest priority.

Activate it from

• Administration > System Initialization > Company Details > Basic Initialization, check the Enable Advanced G/L Account Determination box.

[jitin_chawla]

Hi,

You have to explore the options available. The one which suits you better and applicable to your business process can be considered.

Check the below in the DEMO Database:

Create a new Freight Type say 'Sales Discount', enter the value with Tax Code which is not applicable on Frieght(i.e not applicable on Discount) and then amount in negative in that type of Freight in document.

Finally enter the document and check the entry and also its impact on your reportes and other relevant for your business process.

As mentioned it needs to be tested and there could be many other ways to handle this. But the standard way is that the Revenue is netted off and will not have a row in the JE for the discount until it is in the Payment.

Test. Test and test.

All the best.

regards,

Jitin C

[msundararaja_perumal]

Hello,

Unless you have an non-inventory item as discount in the row level, it is not possible to create a JE for discount.

Thanks.

[former_member962390]

Dear Mr. Perumal,

Yes, I create an non-inventory item as discount. But I do not know how to setup it.

Please advice me the solution in details.

Thanks

[msundararaja_perumal]

bhv1983

Duplicate an existing item master, uncheck the inventory item checkbox.

Under the inventory tab, choose the Set Inv. Method By Item Level and keep only one warehouse for the item master and enable the G/L accounts using the form settings and map the revenue and expense G/L account.

That is all!

Thanks.