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Yeargin
Level 1

Payment on Account in Point of Sale with Terms Discount

Using QB POS and QB DT on localized network, the terms have been established in QBDT as 5% 10 Net 15. That is if you pay prior to or on the 10th you may deduct 5% of the statement total, with no interest changed if paid by the 15th of the month. This works fine. When a customer comes to the sales counter (running QB POS) to make a payment and you do a payment on account (common method in user guide), you do not get an option to apply the discount (i.e. 5%) and I see no logical way to make a manual entry for the discount to be applied as needed. This can be done in QB DT by do A/P and impacting Cash and Sales Discounts. 

So, Question is: How do you apply payment and discount using Point of Sale and have posting to QBDT be correct?

2 Comments 2
MaryLurleenM
Moderator

Payment on Account in Point of Sale with Terms Discount

Hello there, Yeargin,

 

You can send the discount to QuickBooks Desktop. There are two ways you can do so:

  • Net Value (default):

Net

  • Separate original and discounted values:

Separate

 

  1. In QuickBooks Point of Sale, go to File and select Preferences.
  2. Select Company, then select Financial.
  3. Select the checkbox for Use with QuickBooks Financial Software.
  4. From send discounted items with, select either Net Value or Separate original and discounted values.

Stay in touch with me if you have other questions.

Yeargin
Level 1

Payment on Account in Point of Sale with Terms Discount

Unfortunately, that solution does not address the issue. It is not in the creation of the invoice or doing a specific invoice with a discount on item. It is in the acceptance of payment on account, which would be comprised of several invoices and which also would not adjust the tax amount of any specific invoice. It would be an offset the same as cash and usually be something like "Net 10 5% Discount". This transaction should look something like this:$100 balance=$95 payment+$5 discount. But I see no way of having the $5 amount post correctly to QB Desktop from QB Point of Sale, while showing the account paid in full (i.e. $100 balance now $0). If your solution is suggesting an item be set as "Net 10 5% Discount" and then doing a negative amount (i.e. $20.99), I would note that the tax was impacted as it should have been fully taxed at %6 being $2.52, and also note that when accepting payment in POS on charge account it does use a different pop-up screen in Point of Sale with a radio button for payment.

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