Example 2: Calculating sales and returns

If you gave $2000 in discounts and your total for refund checks and credit memos was $1000, the tax summary shows only the total for discounts:

Returns and allowances 2,000

The Debit column in the QuickZoom report provides the amount for refund checks and credit memos:

Debit
1,000

In this case, the total to report for returns and allowances on your tax form is $3,000.