There are two primary types of discounts in accounting that might occur in your small business – trade discounts and cash discounts. A trade discount occurs when you reduce your sales price for a ...

Cash discounts are all the rage as merchants seek to lower payment card acceptance costs. But critics say cash discounts all too often are surcharges in disguise. Few topics last year drew more ...

There’s no doubt last year’s pandemic crippled sales and brought hardship to many businesses, and unfortunately, many had to close their doors for good, while others had to impose additional ...

A business is constantly buying things: supplies, inventory, raw materials, equipment. While some businesses transact only in cash, most purchase on credit, which requires an entry to accounts payable ...