net purchase recording
Definition
Accounting method of recording cash discounts or purchases. It uses the invoice amount less expected cash discount as the basis of journal entry. If the discount is not realized, it is charged to discounts lost account. Also called net price recording.
net purchase recording is in the Accounting & Auditing, Banking, Commerce & Finance and Purchasing & Procurement subjects.
net purchase recording appears in the definition of the following term: net price recording
This content can be found on the following page:
http://www.businessdictionary.com/definition/net-purchase-recording.html
email to a friend
print this definition
cite this definition
link to this page
