We just installed and are using Sage100, and we just found out that discounts we take for early payments for material are going to an income account. I have been in accounting for a long time and have not seen such a thing before. Discounts for purchased material should be off setting the expense of the material and the GOGS accounts not be put to an income account, it's not income. I have tried to change this in the 1-8 and can not put to GOGS account it wont allow me. Please fix ASAP
by: Angela K. | over a year ago | General Ledger
Comments
I wondered about this too...