Which side does debit note sent to customers appear on the Sales Leder control accoount?
Where does trade and cash discounts go on the Sales Ledger control account?
Which side does debit note sent to customers appear on the Sales Leder control account?
The amount stated on debit notes must be debited to the SL ctrl a/c.
Where does trade and cash discounts go on the Sales Ledger control account?
Trade discounts do not appear in SL ctrl a/c. They must be deducted (if not already) from the list price of the credit sales, and the nett credit sales amount debited as Credit Sales to the SL ctrl a/c.
Cash discounts (Discounts Allowed) must be credited to the SL ctrl a/c.
Cheers,
ShadowBender