Re: [SL] How to apply a discount/credit given to a supplier order?

[<sql...@li...>]

Indeed, Bank debit, income credit sounds valid.
It would mess up your COGS if you do not use a Gl transaction, also known as
Journal Entry.

If you allready have an account for discounts (given and or received) I
would use that.
Seeing the question, I rather suppose you do not. In that case, either use
income account (it is income, taxable at that now that I think of it) or
create a new account (received credits & bonus).

2009/7/13 <sql...@li...>

> I used to order from a this provider some products through a previous
> company account I had with them.
>
> I created a new entity and informed the supplier of this. Instead of
> them making me a new account on their end, they just renamed my old one
> to keep the history and such.
>
> However in the previous company I had requested I get issued some credit
> for some items that arrived bad. They apparently did a whole inspection
> that took a while perhaps to get refunded from the manufacturer
> themselves. I had totally forgotten about this credit honestly.
>
> The other day I place an order and the representative told me he finally
> applied that credit he owed me on my current order invoice.
>
> So now I am not sure how to input this in SL because it really isn't
> directly related to my new company.
>
> Should I do a GL transaction to adjust?
>
> For example the supplier invoice reads $200, but after the credit it's
> $150. So I do not just want put the cost of the items to be actually
> less when I create a vendor invoice, since that would just throw my
> profit off by a bit.
>
> What is the correct way to adjust this accordingly? If its a GL
> transaction, would I do this backward than traditional?
> ie. debit my bank account and credit the account for this item?
>
> If someone can suggest something I would appreciate it.
>
>
> ------------------------------------------------------------------------------
> Enter the BlackBerry Developer Challenge
> This is your chance to win up to $100,000 in prizes! For a limited time,
> vendors submitting new applications to BlackBerry App World(TM) will have
> the opportunity to enter the BlackBerry Developer Challenge. See full prize
> details at: http://p.sf.net/sfu/Challenge
> _______________________________________________
> sql-ledger-users mailing list
> sql...@li...
> https://lists.sourceforge.net/lists/listinfo/sql-ledger-users
>