• From: Sri Lanka, Colombo
  • Registered: 12/04/2017
  • Posts: 9

Topic: How to save discount percentages on sale and purchae prices

Hi,

Just wondering is there a way to save discounts per product stock in the system, so from the invoice screen it will automatically appear when adding. Also for purchasing as well, how can we add the supplier discounts and free units with the purchase entry screen and get the correct unit price. Thanks

  • From: USA, IL, Plainfield
  • Registered: 12/22/2020
  • Posts: 28

Re: How to save discount percentages on sale and purchae prices

This is important, especially on purchases.  In a periodic inventory system, it is not an issue.  But in a real-time inventory system, actual cost principle dictates that any purchase discounts be applied to the COGS account for each item.  Currently, I see no mechanism to automatically distribute the discount taken in a supplier payment to the individual COGS accounts for the items purchased.  The Purchase Discount Account should have an option to use the Purchase account.  Then, if the Purchase Account is set to use the Item Inventory/COGS Account, the Purchase Discount taken when paid should be distributed properly to the respective COGS accounts.