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Rhammerle
Level 2

please help

Newish to quickbooks.... I have set up an account for early inovoice discounts, ie: invoiced 3,000 on 2% net 30. so when i pay before 30 days its 2%($60) off so i pay 2940 and the 60 goes into an account. The question is that account shows up as income on my monthly P/L. Should it show up as income? Or should i set the account up a different way. please help pleaseeeeee

Solved
Best answer March 18, 2019

Best Answers
Anonymous
Not applicable

please help

Hi there, @Rhammerle.

 

Thanks for getting back and providing clarification about the discount tracking.

 

Yes, that does change the process. Since you're referring to your vendor bill, this gets marked as an income since there is a price reduction instead of adding cost to the business. 

 

You can check out this related post: https://quickbooks.intuit.com/community/Reports-and-accounting/Correct-way-to-enter-a-Discount-on-a-....

 

If you need help in the future that's related to bill discounts, you can always refer to this helpful article: Pay bills in QuickBooks Desktop.

 

That should do it. Again, if you have additional questions about tracking discounts, please don't hesitate to reach out. I'm always here to help.

View solution in original post

3 Comments 3
AldrinS
QuickBooks Team
Rhammerle
Level 2

please help

This is a vendor invoice I get discounts on not a customer invoice. does that change the process?

 

Anonymous
Not applicable

please help

Hi there, @Rhammerle.

 

Thanks for getting back and providing clarification about the discount tracking.

 

Yes, that does change the process. Since you're referring to your vendor bill, this gets marked as an income since there is a price reduction instead of adding cost to the business. 

 

You can check out this related post: https://quickbooks.intuit.com/community/Reports-and-accounting/Correct-way-to-enter-a-Discount-on-a-....

 

If you need help in the future that's related to bill discounts, you can always refer to this helpful article: Pay bills in QuickBooks Desktop.

 

That should do it. Again, if you have additional questions about tracking discounts, please don't hesitate to reach out. I'm always here to help.

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