How do you find discounts

Discount - discount on goods and services

It's worth it for you: A discount is a reduction in the price of goods and services. As an entrepreneur, you should always keep an eye on current discounts when making purchases in order to save money.

How to recognize discounts: Look out for ads, advertised deals in some shops, or special labels on goods. You can often get a discount through a voucher. Normally the discounts are given in percent. The amount differs depending on the industry and type of discount. In the automotive industry, price reductions of up to 20% are usually given, while in the fashion sector, for example at sales times, discounts of over 50% are issued. In general, however, the discount is between 5% and 20%.

You can benefit from these discounts

There are different types of discounts that you will come across again and again in everyday life. Especially if you have long-term contracts with suppliers, you should get one or the other discount every now and then. One of the most common is the Goods discount. He is either in individual cases for the purchase of larger quantities than Quantity discount or used for constant deliveries. These discounts are most commonly used in the B2B sector. The Loyalty discount also pays off in long-standing business relationships. Because with this discount you will be rewarded for your many years of loyalty. Fast cash payments can also be worthwhile for you - if the supplier has one Cash discount offers. The Promotion discount is limited in time and is often intended to promote the sale of goods or to serve advertising. Those who buy early can also save: Den Early occupancy discount you get on seasonal items that are bought before the actual season. The Function discount is granted among traders, for example. Since the buyer himself is part of the distribution system, he receives a discount from the seller. Special discounts are for example student discounts, employee discounts or press discounts.

The time factor

With many discounts, the time of purchase and the time at which the discount is granted is interesting. The Instant discount will be deducted from the price immediately upon purchase. A subsequent discount is only granted with a time delay. At Cashback it is also a discount. After purchasing the product, customers receive part of the purchase price as a refund.

Objectives of granting discounts

Companies give discounts to their customers in order to achieve various goals. First and foremost, this is intended to influence the customer's shopping behavior, since the discount represents an incentive to buy. Discounts are very suitable for customer acquisition and customer loyalty, but also serve to increase sales. In addition, many dealers use discounts to dissolve remaining items or to compensate for orders that are spread over time.
The advantage for companies: In contrast to price reductions, discounts emphasize product exclusivity. In any case, they are a competitive advantage.

Discounts in accounting

Discounts must inevitably also be taken into account in the accounting. You reduce the expenses of your company and thus increase the profit. The time factor is particularly interesting for bookkeeping. It must differentiate between immediate discounts and subsequent discounts. While immediate discounts are booked immediately, subsequent discounts make more work. Immediate discounts can be booked directly with the price and therefore only appear through a reduced price. In the case of subsequent discounts, the full price is booked first; the bonus that arises later must then also be booked at the time it is incurred. With instant discounts, the full price is never paid. Only the net amount actually paid is posted.

If the products are bought with a later discount, the full price including sales tax must be booked at this point in time. If discounts are given retrospectively, the accounting department must process the affected accounts accordingly. The discount is then posted to the customer bonus account and offset against the revenue account at the end of the year. This is how the total revenue is corrected. For the customer, the cost price is reduced by granting a discount.

As a discount provider, you must bear this in mind

If you, as an entrepreneur, want to attract customers with discounts, then you have to follow a few rules. According to German law, you have to be careful with discounts. In certain cases you are not allowed to give discounts and advertise with them. This is the case, for example, if you limit a discount campaign for a very short time, the discounts become normal prices without setting a deadline, or so-called moon prices are used. Prices are first increased sharply and then reduced again through a discount.

The best offer

It is always worth collecting vouchers for you and looking for the best offer. You can find the information on this online or in numerous brochures. Especially if you are a customer at a wholesale market, you can often find good deals. The large and varied range always offers one or the other product on which you get a few percent discount. Not infrequently there are also promotions in which you are rewarded with a voucher for your loyalty or the purchase of certain goods.