I receive purchase discounts from a number of suppliers during the course of our trade purchases. I would like to record the discount amount in the bill.
So it goes like this - First I make a purchase order listing all the items, etc, then I make the bill of the same order (enter bills).
In the expenses side, can i record the discounts as a Purchase discount (It affects COGS) and record it as a negative amount since I am mentioning it in the expense side of the bill.
Welcome to the Community page,
You are not able to record the discount on the bill itself, it has to be done on the payment
When making the payment all you need to do is hit the discount button at the bottom of the payment page.
Here are the steps to do this-
If you have any further queries please reach back out to us.
Dear @Ashleigh1 ,
Unfortunately, this method that you described is not possible for me to follow because this option is NOT available for me in Quickbooks. I have attached a screenshot for your reference. I had already tried doing it before asking this question in the community.
That is why I put is as a purchase discount in a negative amount, in the bill itself. But since you said we cannot add discounts in the bill, and your described method is not possible either, therefore please suggest another alternative to go about for this.
Hello there, arshia200.
The Discount option is only available in the Pay bills window. If you want to enter it on the Bills window, you can continue the steps you're doing by entering the discount as a negative amount. Then, you can enter a description of the amount that it's a discount. Review the Amount Due before saving and closing it. You can also click Recalculate from the menu if you made changes to the amounts.
Meanwhile, you can change the affected account of the discount (pay bill option) through Preferences. Let me show you how;
QuickBooks, don't retroact so I suggest that you toggle the discount item again. I'd also recommend reaching out to an accountant of there is another way of applying discounts to the bill. This way, we won't mess up your books. You can also use this article to know more about our Accounts Payable workflows in QuickBooks Desktop.
If there's anything else that you need help with, just leave a reply below. You take care always and have a great day!
Let's ensure that the discount button will show in your QuickBooks file.
To isolate the issue you're having, we can start updating your QuickBooks to the latest release. This helps keep your software up-to-date and has the latest features and fixes. Then try to pay bills, if the discount button doesn't exist, we can proceed with verifying and rebuilding your QuickBooks data. This process self-identifies the most commonly known data issues within a company file and self-resolves most data integrity issues.
Please see this article for more information on fixing data damage: Verify and Rebuild Data in QuickBooks Desktop.
Additionally, I've added this article that'll help you on how to fix data damage: Fix data damage on your QuickBooks Desktop company file.
Please keep me posted if you have other concerns about discounts settings. I'll be around if you have other questions for QuickBooks.