O'Reilly logo

The Complete Idiot's Guide® To Accounting by Lita Epstein, Shellie L. Moore

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Sales Discounts

Most retail outlets offer sales at some time during the year, whether it’s to bring additional traffic into the store or to get rid of leftover merchandise when the prime season is over, such as after-Christmas sales. To know how well your business is doing during prime retail time, you need to carefully track items for which you offered a discount.
When you run a sale, you should record the sale at full retail price and then record the sales discount separately. You can easily do this recording by using a standard cash register receipt. Assume Lisa’s Candle Shop is offering a 20 percent discount on Christmas merchandise in January. During this sale the cash register receipts have an extra line of information.
Lisa’s Candle ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required