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Are sales discounts reported as an expense?

Accounting Financial Accounting
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Question added by Yazan Ahmad , programmer , wysada
Date Posted: 2017/01/11
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Marilou dela Paz
by Marilou dela Paz , Finance and Office Manager , Omni MEA Tyres - Dubai

No.  Sales discounts should be deducted from Sales Account.

Aman Acharya
by Aman Acharya , Articled Trainee , S D & Associates

Reported as "Discount allowed" in Profit & Loss Statement, It is a type of Selling Expenses.

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