[GNC] Use of cash discounts in business account tree

[Michael or Penny Novack]

On 5/14/2024 8:52 PM, nisp1953 wrote:
> OS; OpenBSD  7.5 GENERIC.MP#82 amd64
> Gnucash Ver.:
> GnuCash 5.5
> Build ID: 5.5+(2023-12-16)
>
> I have set up a simple business account tree using the wizard. I have
> Cash Discounst under expenses like so:
>
> \/ Expenses
>       Bank Service Charge       $0.00
>       Cash Discounts            $467.82
>        Cost of Goods Sold        $67.41
>
> What exactly is allowed in Cash Discounts? I'm not an accountant.

The wizard is only a starting point giving an example of TYPICAL 
accounts. There is no guarantee tat the set of accounts would =meet the 
needs of YOUR business. If your business never offered cash discounts, 
then your business wouldn't have that account in its ledger.

Are you saying that you never encountered cash discounts? You never got 
an advertisement from a vendor saying "this week only, 10% discount site 
wide"/

Michael D Novack