How do I enter terms with discounts?

@BigRedConsulting 

You can create terms such as 5% 10 Net 30, and add that to your customer's invoice, but there's nowhere to list the discount percent when creating the terms, and QB Online doesn't have a Discounts and Credits feature that automatically calculates the discount based on the payment received date like Desktop.  If that's not bad enough, the 'Discount %' column on the terms list report is irrelevant AFAIK.  Don't you just love it?

On the plus side, QB Online has a separate service date on the invoice that allows individual line items to hit financial statements separately from the invoice date, while still preserving the customer's terms based on the invoice date - an issue with Desktop that has been brought up with some regularity on this forum.  

So I wonder why there are columns on the report, and so fields in the database, for these discount values? It's truly hard to understand how Intuit could have an accounting offering that's 25 years old and still not support terms with discounts. It's basic.

@BigRedConsulting 

"It's basic."

I couldn't agree more.  Maybe it's on their to-do list?  Nah....  

Hey there @BigRedConsulting!

Thanks for bringing up the early payment discount feature you're familiar with in QuickBooks Desktop.

While QuickBooks Online lets you select payment terms, the direct, automatic application of discount percentages and periods tied to those terms isn't a built-in feature right now.

You can definitely still offer discounts in QBO! You can apply them directly to invoices or when you receive payments. It's just a slightly different workflow than what you might be used to in Desktop.

We always appreciate your feedback as it helps us make QuickBooks even better. If you'd like to see this feature in the future, please send your suggestion through the Gear icon > Feedback in your QBO account. We're always listening!