Assuming this gift came from a domestic vendor and was not absolutely huge, you would "record" the supplies at the cost you paid for them, which is zero. So meaning nothing is recorded.
Hello.
I'd still record the purchase so you have a record of it one of two ways:
1> post the full price, then post a credit (negative amount) noting it was a "first purchase incentive" or whatever you'd like to call it You meet cost will be zero and you have a record of details.
OR...
2>Post the purchase with a $0 cost.
Personally i prefer option 1.
It shows all the activity and also gives the correct net result.
Hello.
I'd still record the purchase so you have a record of it one of two ways:
1> post the full price, then post a credit (negative amount) noting it was a "first purchase incentive" or whatever you'd like to call it You meet cost will be zero and you have a record of details.
OR...
2>Post the purchase with a $0 cost.
Personally i prefer option 1.
It shows all the activity and also gives the correct net result.
I think Method 1 is the right way. You can book the fair value of the free supplies as a discount off the order including the free supplies, so that the total order amount, and A/P amount and the eventual cash paid all come out right.
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