Enterprises selling goods sometimes encounter cash discounts, commercial discounts, sales discounts, etc., should be dealt with in different situations:
(1) cash discounts, refers to the creditor in order to encourage the debtor to pay the debtor in the specified period of time to provide the debtor with the debt deduction. Where the sale of goods by an enterprise involves cash discounts, the amount of revenue from the sale of goods shall be determined on the basis of the amount before the deduction of cash discounts. Cash discounts are charged to finance costs when they are actually incurred.
(2) commercial discounts, refers to the enterprise in order to promote the sale of goods and the price deduction given on the price tag of goods. Where the sale of goods by an enterprise involves commercial discounts, the amount of revenue from the sale of goods shall be determined on the basis of the amount after the deduction of commercial discounts.
(3) sales discount, refers to the enterprise due to the sale of goods sold for reasons such as the quality of the goods failed to give a discount on the selling price. For sales discounts, enterprises should be dealt with in different situations: ① recognized revenue from the sale of goods sold in the event of a sales discount, usually should be offset in the occurrence of the current period of sales revenue; ② recognized revenue from the sale of goods is a matter of balance sheet date, should be dealt with in accordance with the relevant provisions of the balance sheet date.
Example 12-8[white9] Company A sells a batch of goods to Company B on July 1, 20×7, and issues a VAT invoice with a sales price of RMB 20,000 and a VAT amount of RMB 3,400. In order to recover the payment for the goods early, Company A and Company B agree on the following cash discount terms: 2/10, 1/20, n/30[white10] . Assume that the amount of VAT is not taken into account in calculating the cash discount. Company A's accounting treatment is as follows:
(1) When the sale is realized on July 1, revenue is recognized on the basis of the total sales price:
Borrow: Accounts receivable 23 400
Loan: Revenue from main business 20 000
Taxes payable - VAT payable (output tax amount) 3 400
(2) If Company B pays for the goods on July 9, it will enjoy a cash discount of 400 (20 000 × 2%) yuan at 2% of the total sales price of 20 000 yuan, and the actual payment will be 23 000 (23 400-400) yuan.
Borrow: bank deposits 23 000
Finance costs 400
Credit: accounts receivable 23 400
(3) If Company B pays for the goods in full on July 18, it will enjoy a cash discount of 200 yuan (20 000 × 1%) at 1% of the total sales price of 20 000 yuan, and the actual payment will be 23 200 (23 400-400) yuan:
The actual payment will be 23 200 (23 400-400) yuan. 200) yuan:
Borrow: bank deposits 23 200
Finance costs 200
Loan: accounts receivable 23 400
(4) If Company B pays for the goods only at the end of July, payment is made on the basis of the full amount:
Borrow: bank deposits 23 400
Loan: accounts receivable 23 400
Example 12-9[white11] Company A sells a batch of goods to Company B. The VAT invoice issued states that the sales price is RMB 800 000 and the VAT amount is RMB 136 000. Company B finds that the quality of the goods is unqualified during the acceptance process and requests a 5% discount on the price. Assuming that Company A has recognized the sales revenue and the payment has not yet been received, the sales discount incurred is allowed to deduct the current VAT amount. Company A's accounting treatment is as follows:
(1) When the sale is realized:
Borrow: Accounts receivable 936,000
Credit: Revenue from main business 800,000
Taxes and charges payable -- VAT payable (output tax) 136,000
(2) ) When sales discount occurs:
Borrow: main business income 40 000
Taxes payable - VAT payable (output tax) 6 800
Loan: accounts receivable 46 800
(3) When the actual receipt of the payment:
Borrow: bank deposit 889 200
Loan: Accounts receivable 889 200