Discount for yearly sales target achivement

My company given discount for customer who achieve yearly sale target.
What is the accounting entry to record the entry and what GST code to use.
Do I need to issue Credit Note? Please advise. Thank you.

Asked on April 16, 2018 2018-04-16 04:14:03 Business (商家)
Add Comment
1 Answer(s)

The accounting double entry is :
DR. Discount Allowed – SR
CR. Customer – OP
CR. GST Output Tax Payable
Yes you should issue credit note to your customer and tax code is SR.

Answered on April 16, 2018. 2018-04-16 09:36:43

Thank you for the reply.

on April 17, 2018. 2018-04-17 00:16:20

Thank you for the reply.

on April 17, 2018. 2018-04-17 00:16:49
Add Comment

Your Answer

By posting your answer, you agree to the privacy policy and terms of service.