@BigRedConsulting
"No, that's completely wrong. The bill should be entered for the bill amount. Any discount is related to the payment, not the bill, and can only be taken if the bill is paid during the discount period."
Not necessarily. GAAP allows companies to record payables using either the gross or net method. You're referring to the gross method that records payables without regard to the discount, which is perfectly acceptable. The net method records payables with the discount, which is also perfectly acceptable.
