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Sales Discount as a Contra Account to Sales
QuickBooks Pro for Windows: 2009
8/31/09 12:51 PM, Viewed by asker 8/31/09 1:17 PM
Total Views: 265
8/31/09 12:51 PM, Viewed by asker 8/31/09 1:17 PM
Total Views: 265
How do you set up "Sales Discount" as a contra account to Sales? I want it to show as a deduction from Sales on the P&L.
All Replies: Answers (1)
It doest it by itself. When you apply a discount to a customer, you use an item called Discount, link to the income account Discount-every time you apply a discount to an invoice the amount will be negative in your P&L.
Same thing when you apply the discount by the time you receive the payment.
Have a nice day
