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This one is a whopper! I don't agree with what was done here but it happened before I started working for the company and they need me to clean up the entries. Please bare with me on this one...
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My understanding of these two accounts are:

Discount allowed is affected when the company offers a discount to a customer and it is netted against sales... thus listed in the chart of accounts as...

Yup there is a fee for doing it and the late fee will be paid by the company, so it better not be late!

Thanks!

Thanks you are the best!

Company just brought a barcoding system (hardware/software), which account to you effect for this purchase?

Thank you morgaine 300.

So that I'm clear the deduction would appear in this payable account as a cr and when the cheque is processed that amount is debited from the same account.

Hi new to the accounting field, however, I have been presented with a project. I work for a small service business. The staff is requesting salary deductions to be done for personal loans payable...