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You are currently browsing the archives for the 'r. Trading & P&L Items' category.
To keep proper books of account, the bookkeeper needs to at least understand the difference between Trade and Cash discounts.
Cash discount, which are shown as Discount Allowed(given to customers) and Discount Received(received from suppliers) are shown below with the accounting treatment. (more…)
We often see the term carriage inwards and carriage outwards. As bookkeeper, we must clearly understand the difference and use the following appropriate accounting treatment. (more…)
Similarly like carriages inwards & outwards, we have such common terms like return inwards and return outwards. As reiterated, it is crucial to understand the term and treat the items using the appropriate accounting treatment. (more…)
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