Hi...
We offer a postal discount if someone orders over £60. To enter these I have created an account under "income" called "Postal Discounts"
Say an order comes in....£60 goods, £5.95 Post, £5.95 Discount I enter it as follows
Account
Sales = £60
Postage = £5.95
Postal Discounts = -£5.95
Is this correct ?
Im concerned as "Postal Discounts" is showing in our Profit & Loss as a minus figure and obviously affecting the final amount, which I believe it shouldnt as we never actually had that money..
Does that make sense ?
Hi Adrian,
Yes that is correct. It is normal to display discounts in the Profit and Loss reports as a minus figure:
Sales Income £1,000
Shipping Fees Collected £50
Discounts -£50
--
Net Income: £1,000
Alternatively you can simply remove the postage fee and postage discount from the invoice.
Regards,
