DeVisu | Discount cards accounting features (part 3)

Discount cards accounting features (part 1) | Discount cards accounting features (part 2)

Let's consider specific examples how to take on charge and how to give discount cards as well as how to sale goods using discount cards.

Recognition and and issuance of discount cards

The company issued 500 discount cards. Costs of production - 1800 UAH including VAT. Was issued 200 discount cards to customers.

Name of business transactions, documents, accounting records are shown in Table 1.

Table 1

*Business transaction*	Documents	*Accounting records*	Amount
Prefunding for discount cards issuance	Suppliers' invoice Outgoing payment transaction confirmation	Debit side 631 Credit side 311 Debit side 6442 Credit side 6441	1800 300
Tax credit (VAT)	Incoming tax document filing	Debit side 6412 Credit side 6442	300
Discount cards have been taken on charge	Goods and services arrival	Debit side 209 Credit side 631 Debit side 6441 Credit side 631	1500 300
200 discount cards have been given to customers	Goods depreciation	Debit side 93 Credit side 209	600

Goods sold at discount cards

The company sold in the retail 500 kg of sugar at 7.20 UAH including VAT (price of recognition 5 UAH including VAT) but with 2% of discount was sold only 200 kg. Payment amounted to 36 UAH.

Discount amount is 28.80 UAH (7.2 x 200 x 2%). Revenue was 2976 UAH ((7.2 x 500 - 8.28): 1.2). Cost of sold goods 2083.33 UAH (5 x 500: 1.2). Trading margin amounted to 1487.87 UAH ((7.2 - 5: 1.2) x 500 - 28.8).

Table 2

*Business transaction*	Documents	*Accounting records*	Amount
500 kg of sugar were delivered to the shop	Physical flow of inventory	Debit side 2821 Credit side 281 Debit side 2821 Credit side 2851	2083,33 1516,67
500 kg of sugar were sold	Retail sales report	Debit side 902Credit side 2821 Debit side 902Credit side 2821 Debit side 2821Credit side 2851 Debit side 902 Credit side 2821 Debit side 36Р Credit side 702 Debit side 702 Credit side 6434 Debit side 36Р Credit side 702 Debit side 702 Credit side 6434 Debit side 333 Credit side 36Р Debit side 301 Credit side 36Р	1440 2160 -28,8 -28,8 1411,2 235,2 2160 360 36 3535,2
Tax liability (VAT) was filled	VAT invoice	Debit side 6434 Credit side 6412	595,2
Goods cost and trading margin were corrected	Month-end close	Debit side 902 Credit side 2821 Debit side 2851 Credit side 2821	-1487,87 1487,87

Discount cards accounting features (part 3)

Expenses of individual entrepreneur on general system: how to correctly take into account the Intern...

Termination of entrepreneurial activity of individual entrepreneur: liquidation reporting and calcul...

Liability for Inaccuracies in Fiscal Receipts: When Errors Lead to Fines

Depreciation periods: what you need to know for correct tax accounting