considered income

considered income Online Support >

considered income: why are discounts you give customers considered income??

they are not income, though they normally post to a sales income discount account, the posting is a debit which lowers overall income.  It is called a contra account.

ie

sales income 3,000.00  (credit entry in accounting)
>>sales income discount 250.00 (debit entry in accounting)

gross income 2,750.00

Resolution for 'considered income issue: 'why are discounts you give customers considered income??' available: Yes.

The considered income issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the considered income issue yourself by looking for a resolution described in the article. If it is a complex considered income issue or you are unable to solve the issue, you may contact us by clicking here or by using other considered income support options.

For more information about resolving issues related to considered income in Quickbooks/QBO or to get support for the issue 'why are discounts you give customers considered income??', click the link below:

Details

considered income: How do I categorize the purchase of materials for clients and the reimbursement so that it is not taxed or considered income?

what you pay is an expense, and what is paid to you is income
on the P&L income is reduced by expense to get net income, if expense and income are equal, there is a zero net income for that aspect of the transaction

Essentials does not have reimbursable expenses, QBO+ does.  […]

Resolution for 'considered income issue: 'How do I categorize the purchase of materials for clients and the reimbursement so that it is not taxed or considered income?' available: Yes.

The considered income issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the considered income issue yourself by looking for a resolution described in the article. If it is a complex considered income issue or you are unable to solve the issue, you may contact us by clicking here or by using other considered income support options.

For more information about resolving issues related to considered income in Quickbooks/QBO or to get support for the issue 'How do I categorize the purchase of materials for clients and the reimbursement so that it is not taxed or considered income?', click the link below:

Details