1. Real Estate Management Implementation Guide
  2. Example: Invoice Match with Discount (Type Input Code10)

Example: Invoice Match with Discount (Type Input Code10)

When you apply a receipt to an invoice or group of invoices, you can allow the discount. If the tenant pays the invoice in full on or before the discount due date, the discount is earned and the system automatically completes the Discount Taken field with the amount of the discount. If the discount is not earned (that is, the GL date of the receipt is after the discount due date), the system does not automatically complete the Discount Taken field, but you can override it and apply a discount amount manually. If you do not allow the discount, the system leaves the invoice open in the amount of the discount.

You can set processing options to allow the amount of the discount taken to be more than the discount available, or to allow the discount taken to be more than the applied (payment amount). For example, you might issue a credit to a tenant in the form of a discount for a disputed item. You can also specify grace days to add to the discount due date.

After you enter receipts with discounts, you must post them. When you post payments with earned discounts, in addition to the bank account and AR trade account, the system updates a discount taken account.

The system uses this hierarchy to locate the discount taken account:

  1. The system searches for AAI item RKDxxx, where xxx is the discount reason code that you entered for the company that you entered on the receipt.

  2. If the system does not locate this AAI, it uses RKDxxx for company 00000.

  3. If the system does not locate RKDxxx for company 00000, it returns an error.