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October 18, 2021
Solved

Comps and Discounts

  • October 18, 2021
  • 1 reply
  • 1 view

I run a small restaurant and am using quickbooks online.  In my charts of accounts I see an account for discounts and refunds.  I am trying to record employee meals that are comp.  as well as any discounts given to customers.  I am unsure how to enter these so my POS closing receipts are matching entries in Quickbooks.  Is it an expense and  create a vendor for employee meals?  

Best answer by Rustler

Employee meals that are comped are an office expense

 

discounts to sales should be an income account, it acts as a contra account lowering total sales on the P&L.  it is normally a sub account of sales

1 reply

Rustler
RustlerAnswer
Level 15
October 18, 2021

Employee meals that are comped are an office expense

 

discounts to sales should be an income account, it acts as a contra account lowering total sales on the P&L.  it is normally a sub account of sales