When any customer purchased the goods in a large quantity from the market then gives a discount to the customer. In Accounting terms, there are basically two types of discount: Trade Discount & Cash Discount. A discount column on the list price granted by a manufacturer or wholesaler to buyers in the same trade. In other words we can say that an amount or rate by which the catalog, list, or retail price of an item is reduced when sold to a reseller.
How to activate separate discount column?
- press F11 --> F2
- F2 --> activate separate discount column and invoices
Two methods to solve a discount column in Tally:
- simple method
- complex method
- Simple method:
When you used the simple method in tally for discounting purpose then only activate in the company features with the help of pressF11 and then F2 and activate the separate discount column on invoices. When you open the page of the accounting voucher then discount column is also shown in this voucher.
- complex method:
It is so because when don't want to activate the discounting column in company features. Then go in ledger account:
In ledger account following items are created:
- discount allowed
- discount received
- Discount allowed: Discount allowed means when you give discount to the customer for purchased the goods in a large quantity. It is under the indirect expenses.
· Discount received: when you are purchased the goods or raw material for production and received the discount is known as discount received. It is under the indirect income.
How to see the detail?
- Display --> daybook
- daybook --> ATL +F2
- ATL +F2 --> change period ( it is so because you can see any period to change the period)
- change period ( it is so because you can see any period to change the period)--> ALT F1
- ALT F1 --> to see more detail --> F12 to see advance detail.