Deferred Discounts

NetForum functionality will now allow you set up deferred discounts for any discount product. Deferred discounts will be recognized over the same term as the product they are discounting if that product price has been set as deferred.

To set up a deferred discount, on the Edit – Discount Price page, enter an amount in the discount amount field or a percentage amount in the discount percentage field. Select the deferred? check box and select a deferred expense account on the expense discount drop-down list.

When the discount is applied to a deferred product, the deferred expense account will be debited instead of the expense account. When the revenue recognition process is run, a journal entry will be created for the discount which will debit the expense account and credit the deferred expense account.