Create a GL A/c of “Discount Allowed” under “Indirect Expenses” (FS00), Assign Field status group :G001
Follow the below mentioned path to configure “Terms of Payment” (OBB8)
Click on “Maintain Terms of Payment” ,The following screen Appears
Click on “New Entries”, follow the next screen
Now we need to configure for Cash Discount (OBXI) or Follow below mentioned path
In this step, you define the account numbers for your cash discount expense accounts. The system posts the cash discount amount to these accounts when clearing open items.
Your specifications are dependent on the chart of accounts. You can additionally distinguish your specifications by tax code.
- 1. Specify your accounts.
- 2. Make sure that the accounts are created.
Chart of Accounts: “Company Code”
Click on “Accounts”
Click on “SAVE”
Now we need to “Modify Customer Master Data with Discount Term” (FD02)
- Select the “Customer”
- Click on “Company Code Data”
- Select “Payment Transactions”
- Terms of Payment : “Company Code”
- Click on “Save”.
Raise Sales Invoice Under F-22
Retain the “Payment Term” to allow Discount or else delete the term not to allow the Discount
Post the entry.
Incoming Payment (F-28)
fill the data as mentioned above with full amount
Click on “Charge of Diff” ,the following screen appears
Double click on Bank line item(HDFC Bank)
Amount: Modify Amount,100000*5%=5000
Click On Document & Simulate, Finale entry ll be