Difference Between Purchases And Discount

Purchases are the purchasing of goods for cash or on account / credit while Discount is the reduction in the selling price in order to induce the customers to buy more goods, products or services at a discounted price.

Two types of purchases are Cash Purchases and Credit Purchases / Purchases On Account while various types of discounts include Sales Discount, Purchases Discount, Cash Discount, Discount Allowed, Discount Received, Trade Discount, Quantity Discount, etc.