- This topic has 2 replies, 2 voices, and was last updated 3 years ago by
.
Viewing 3 posts - 1 through 3 (of 3 total)
- Posts
Is Settlement discount and Trade Discount both included in Sales Ledger Control Account?
Everything that happens to individual receivables accounts also has to happen to the control account otherwise the sum of the individual accounts will not reconcile to the control account.
Trade discounts are not a problem – they are just given by reducing the price on the invoice.
If a settlement discount is taken then this must be reflected in both the individual account and the control account.
Viewing 3 posts - 1 through 3 (of 3 total)
- The topic ‘Discounts’ is closed to new replies.