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david224
Level 3

Different payment terms and payment options in an invoice

Hi Community,

I hope I'm able to express myself adequately enough and describe the issue I face, properly:

I would like to include on my invoice several payments terms and method allowing the payees to select the most beneficial payments for them.

With that being said, I'd like to inlclude on the invoice the following options:

1) Payment in advance - 2% discount

2) Direct diposite (ACH) + additioal 1% discount

 

 

7 Comments
Angelyn_T
QuickBooks Team

Different payment terms and payment options in an invoice

Thank you for the details, @david224.

 

I can help you with recording payments with discounts on an invoice in QuickBooks Online.

 

To get started, you need to enable the discount feature from the Accounts and Settings if you haven't turn it on.

 

  1. Go to the Gear icon, then select Accounts and Settings.
  2. Click on Sales at the left pane.
  3. In the Sales form content section, click on the pencil icon in the upper-right corner.
  4. Select the Discount checkbox to turn it on.
  5. Hit Save, then Done.​​​​​​a27 1.PNG

Then, apply the discount on the invoice. Before that, I suggest calculating the discount value or percentage for the two payment methods. Then, add it beside the Discount field.

 

  1. Go to the (+New icon, then click on Invoice under Customers.
  2. Fill in the necessary information, then set a discount value or percent.
  3. Save the invoice.a27 2.PNG

Or, you may create a discount item from the Products and Services window. Once done, add it to your sales transactions since adding a discount when recording a payment is currently unavailable. 

 

For your guide, I recommend checking out the instructions from this link: Add a discount to an invoice or sales receipt in QuickBooks Online.

 

To record an invoice payment:

 

  1. Select Receive Payment from the (+) New icon.
  2. Fill in the necessary details, then select the desired payment type under the Payment method section.
  3. Pick the invoice, then enter the payment amount.
  4. Replicate the steps for the second payment method.a27 3.PNG

For more tips about receiving and recording invoice payments, you can open this article: Record invoice payments in QuickBooks Online.

 

If you have any follow-up questions, please let me know by adding a comment below. I'm always here to provide additional assistance. Keep safe always!

david224
Level 3

Different payment terms and payment options in an invoice

Hi Angelyn,

 

Thank you for your prompt and thorough reply.

That was very helpful.

However, I assume I was not 100% clear in my explanation.

I would like to customer to select the type of discount he wishes to pay according to.

For example, the customer can pay upon receipt of good and then he is entitled for 2%.  

However, if the customer selects to pay Net 30, he will not be entitled for discount.

Is there a way to do that enabling the customer to select his own payment terms off the invoice?

 

Thank you 

 

David

Nick_M
QuickBooks Team

Different payment terms and payment options in an invoice

Hi there, david224. 

 

Thank you for further clarification on what you're asking for. I'm happy to help and clarify. Unfortunately, your customers cannot select these terms, they will need to be selected upon the invoice creation. Here's how you can add the terms to the invoice. 

  1. Click on the Gear icon, choose All Lists.
  2. Select Terms.
  3. Click on New.
  4. Tick the Discount percent checkbox.
  5. Enter the percentage and the days.
  6. Click on Save.

Once you’ve created the term, you can apply it on the invoice. If your customer has paid it early, you can then edit the invoice to apply the discount. Here’s how:

  1. Open the invoice.
  2. On the Discount percent box, enter the discount percentage.
  3. Click on Save and close.

I’ve provided a screenshot below for your visual reference.

 

 

You can find additional information on invoicing in this helpful article

 

Thank you for your time and I hope you have an excellent day. 

david224
Level 3

Different payment terms and payment options in an invoice

Thank you Nick,

That was helpful.
Will I'll be able to credit the invoice at later point?
Is that possible to do that through Q/B?
In case I won't be able to know what the customer's preferences are in respect to the selected payment terms, I think I might end up letting the customer pay the full amount and later credit the discount.
Please advise if this is possible and if there are costs associated with that option?
Thanks
David

Angelyn_T
QuickBooks Team

Different payment terms and payment options in an invoice

Thank you for following up with us, @david224.

 

Yes, you can apply credit/s after creating an invoice. It may take extra steps since you need to modify the invoice by adding the terms and discount as suggested by Nick_M above.

 

After updating the invoice, you can send it to your customer by clicking on the Save and send button.

 

Please feel free to leave a comment below if you need additional help with invoices or payments. I'm a few clicks away to help. Keep safe always!

useraccounting6
Level 2

Different payment terms and payment options in an invoice

I would like to set up terms of 2/10 Net 30 and 2/10 Net 45 for different customers.  Is this possible in the QB Online version?  

MadelynC
QuickBooks Team

Different payment terms and payment options in an invoice

I have some information to share with you, @useraccounting6.

 

In QuickBooks Online, you have the option to add and modify invoice payment terms. You can only set up a fixed number of days, a certain day of the month, and due the next month. 

 

You can add Net 30 and Net 45 to your term list in the program. That way, you can easily apply them to different customers. Then adjust the invoice terms depending on the payment. You can refer to these instructions below:

 

  1. Select the Gear icon, then choose All List.
  2. Choose Terms.
  3. Press the New button.
  4. Enter Net 45 and the number of days.
  5. Hit Save.
    Capture.PNG

 

You can check this article for a detailed guide on how to adjust invoice payment terms in QuickBooks. It provides complete details with tips on how to apply discounts.

 

Don’t hold back to drop a comment if you have additional questions or concerns with payment terms. I’ll be here anytime. Have a good one!

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