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Hogwild3
Level 2

Comps and Discounts

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?  

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Best answer October 18, 2021

Best Answers
Rustler
Level 15

Comps and Discounts

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

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1 Comment 1
Rustler
Level 15

Comps and Discounts

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

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