Discounts on Profit & Loss
Dyegenie
Member Posts: 1
Hello
I'm trying to enter discounts in my discount account but it's not reflecting as negative on my profit and loss statements as it should. Should it be reflecting on the debit or credit side?
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Hey @Dyegenie! Thanks for reaching out here. From what I'm seeing, if you're referring to your Eseoghene Efetie- Ecwid order 71 line item, that would appear to be the discount that you're referring to, but I'm interested in the fact that you've created the Discount account as an income account. Can you let me know a little more about your intentions behind creating it as an income account, and what your current process is as far as using this account? That might help to shed a little bit of light on your situation here!
Hey there @Dyegenie,
The discount won't appear as a negative line item on your report, instead it will appear as a debit. Credits to an income account increase the amount while a debit reduces the amount. See my discount for $50 on an invoice.
It seems you've offered a 7,050 discount bringing your balance to -4,450. This is the only time you'll see a negative balance is if your debit reduces the account's balance below 0.
Hope this makes sense!
Issue resolved... Kindly ignore....
Issue resolved... Kindly ignore...