Retail
Price Adjustment / Allowance (No Return)
Issuing a partial refund when a customer finds the same item cheaper elsewhere within the price-match window.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Sales Allowances | Contra-Revenue (+) | 20.00 | - |
| VAT Output Tax Payable (16%) | Liability (-) | 3.20 | - |
| Cash in Hand / Store Credit | Asset/Liability (-) | - | 23.20 |
💡 Accountant's Note
A price adjustment does not involve returning goods. Only the price difference is refunded. COGS is unchanged since the goods remain with the customer.
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Expert Analysis by Qusai Ahmad
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