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.
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