PPD

Hello,Can you help me please?I start doing some questions from workbook,but my answers about discount was not correct,can you someone look at this and explain why my answers is wrong,because I am now confused :/ thank you for any help

Comments

  • Gabriela333Gabriela333 Registered Posts: 6
  • Gabriela333Gabriela333 Registered Posts: 6

    Hello,Can you help me please?I start doing some questions from workbook,but my answers about discount was not correct,can you someone look at this and explain why my answers is wrong,because I am now confused :/ thank you for any help
  • AATGEMAATGEM Registered Posts: 1
    Your original answer of £320 + VAT of £64 is correct. Where did you get the £62.72 and £382.72 from? If it is from the answers to chapter activities then your book is incorrect!
  • Gabriela333Gabriela333 Registered Posts: 6
    yes, it is from answers to chapter activities
  • BertieBertie West Midlands Registered Posts: 376
    edited March 31
    The prompt payment has been correctly calculated, as per old legislation.

    When was this book published?
  • Gabriela333Gabriela333 Registered Posts: 6
    2013 but I bought that book from ebay,not from Osbourne website,so my calculation is correct?
  • Gabriela333Gabriela333 Registered Posts: 6
    But when I start reading on internet about PPD,I find on one website that from 2015 was some new changes in calculation,but now I don't know if my calculation is for new rules or old rules
  • BertieBertie West Midlands Registered Posts: 376
    If the book was published in 2013 then the book is correct.

    The answer today is what you've stated.

    What you'd do now is if you offer, as a business, a 2% discount - calculate as normal, as per your answer, then, if paid within the timescale, issue a credit note for the discount amount to your customer.

  • sarahh_hsarahh_h Registered Posts: 1
    Hi Guys,

    Jumping in on this question. Unfortunately, unable to see image.

    I am looking at the PPD in Level 2 bookkeeping transactions.

    HRMC guidelines state the discount should not be given on the VAT and if you issue a credit note it should only be on the net amount (not gross). However, the qualification specification and the osbourne material state discount can be given on the Gross amount.
    Please can someone explain the actual guidelines and what we will be expected to know in the exam.

    Thank you