When to use Discount Given and Discount Taken account for overall discount for customer

Hi Maltin,

 

Thanks for your post, and welcome to the Community Forum. These terms are typically used in accounting to track discounts on purchases or sales. Generally, "Discount Given" is used when you provide a discount to your customers, while "Discount Taken" is used when you receive a discount from your suppliers. However, the exact usage can vary depending on your company's accounting practices. For a more accurate and detailed explanation, I recommend reaching out to your team or to your accountant regarding this. You may also look at this helpful article for more information on using customer discounts.

 

Feel free to start a new post again if you need further help. I also recommend getting in touch through our online help center, MOCA, whenever you need immediate assistance.

 

Otherwise, if my response has answered your inquiry, please click "Accept as Solution" to help other users find this.

 

 

Kind regards,

Shella