Discounts

Blue Onion’s journal entries pages automatically account for discounting throughout the order process.

At the order date:



Order #: Sale Type: Sale Amount: General Ledger Account Debit Credit
3966 Gross Sale Price $100.00 Deferred Revenue - Gross 100.00
3966 Discount on Sale $20.00 Deferred Revenue - Discounts 20.00


At the revenue recognition date, the discount is then reclassed to the revenue accounts:


Order #: Sale Type: Sale Amount: General Ledger Account Debit Credit
3966 Discount on Sale $20.00 Deferred Revenue - Discounts 20.00
3966 Discount on Sale $20.00 Revenue - Discounts 20.00

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