Discounts

You can enter invoices with discounts as incentive to issue and receive payments early. When you enter an invoice with a discount, the system calculates the discount and net due dates according to the payment terms that are assigned to the transaction.

Three methods are available for entering discounts:

• Using payment terms. You enter an invoice, specifying the payment terms. The system calculates the discount available and due dates from the payment terms. To override the discount amount to zero, you must establish a payment term that does not calculate a discount, then use that payment term on the Standard Invoice Entry form.

  If you change a payment term to recalculate a new discount amount or due date, remove the system-calculated information by clearing these fields:

  • Discount Available

  • Discount Due Date

  • Net Due Date

• If you change the payment terms but not the other discount fields, the system does not recalculate the discount information.

• Entering a discount amount. You enter an invoice, specifying the discount available and, optionally, discount and net due dates.

• Entering a discount percentage. You enter an invoice, specifying the discount percentage and, optionally, discount and net due dates.