DISCOUNT ALLOWED Definition

Bookmark and Share

DISCOUNT ALLOWED, normally, is a reduction of the invoice amount for early payment of the invoice value.

Learn new Accounting Terms

W-3 FORM, Transmittal of Wage and Tax Statements, is a form employers must use when filing paper W-2s with the Social Security Administration. Form W-3 summarizes the total wages, Social Security wages, federal income tax withheld, and FICA tax withheld from employees during the year and lists the number of W-2s being transmitted.

FUND ACCOUNTING is a method of accounting and presentation whereby assets and liabilities are grouped according to the purpose for which they are to be used. Generally used by government entities and not-for-profits.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.