If you are a retail entity, selling stock items from your
stock code file, you may enter the percentage customer discount for a selected
item, or you may specify a percentage overall discount for all the
transactions on a sales invoice document for a specific debtor or customer.
TurboCASH will post or update the reduced selling price (selling price less
any discounts) to the debtor or customer and sales account.
Discount allowed for the early settlement of
accounts - This discount is allowed to your
debtors or customers at the time of the settlement of their account. You may
agree with your customers to allow a certain percentage of discount allowed
e.g. 2½ % if
they settle the full amount on an invoice within 30 days). This discount is
recorded when a debtor or customer settles the full invoice within the
specified time. This discount needs to be entered as an expense in a Discount
Allowed account and will reduce the net profit and will have no effect on the