When you issue a hand-written credit note for a specific
hand-written invoice, you also need to specify the discounts as was specified
on the original invoice.
Retail Entity - Stock Items - 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 quote, sales invoice for a specific
debtor or customer.
You may also specify the Customer discount on the Edit - Accounts - Debtor (Accounting Information
tab) menu option. You also need to select the
Allow Invoice Discount field for specific Stock Items on the Edit -
Stock Items menu option. Once you process
customer or debtor documents, TurboCASH will automatically calculate the
discount for you.
TurboCASH will post or update the reduced selling price
(selling price less any discounts) to the debtor and sales account. If you have
issued a credit note for stock items returned
by the debtors or customers, and trade discounts was allowed on the original
invoice, you need to specify the same percentages on the credit note.
When this invoice or credit note is printed, the
discounts will reflect on the document. When the documents are posted
or updated to the ledger, the net selling
price, (after discounts are deducted), will be recorded in the ledger accounts.