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SharonLee1
Level 1

Can I record taking the vendor early pay discount when paying a bill on QBO?

 
Solved
Best answer July 08, 2020

Best Answers
ChristieAnn
QuickBooks Team

Can I record taking the vendor early pay discount when paying a bill on QBO?

Hi there, SharonLee1.

 

Yes, you can record taking the vendor early pay discount when paying a bill in QBO.

 

I suggest opening the bill and add a discount item to the next line. This way, you'll be able to apply the discount on your bills.

 

Here's how:

 

  1. Go to the Expenses tab on the left menu. Then, the Vendors section. 
  2. Open the vendor's profile and locate the bill to open.
  3. On the next line under the category column, select the Discount item (income account).
  4. Enter the amount as negative in the Amount column.
  5. Hit Save.

 

Once done, you can now pay the bill with the discounted amount. Please follow the steps below.

 

  1. Click the Plus icon at the upper left corner.
  2. Choose Pay bills. Then, select a payment account.
  3. Select the checkbox for each bill to pay.
  4. Enter the amount of the payment to be applied to the open bill. If available, you can specify the amount of any credit to apply in the Credit Applied column.
  5. Select Save and printSave, or Save and close

 

For additional information, you can click this article: Enter and pay bills. This also provides steps on how you can pay your bills through checks and how you can apply partial credits to multiple bills.

 

Please check this article to see steps on how you can enter credit depends on how you record your purchases: Enter a credit from a vendor.

 

You can also refer to this article on how to run a report that will reflect all payments made to vendors: Run a report with vendor totals.

 

Please know that you're always welcome to post if you have any other concerns. Wishing you and your business continued success.

View solution in original post

1 Comment 1
ChristieAnn
QuickBooks Team

Can I record taking the vendor early pay discount when paying a bill on QBO?

Hi there, SharonLee1.

 

Yes, you can record taking the vendor early pay discount when paying a bill in QBO.

 

I suggest opening the bill and add a discount item to the next line. This way, you'll be able to apply the discount on your bills.

 

Here's how:

 

  1. Go to the Expenses tab on the left menu. Then, the Vendors section. 
  2. Open the vendor's profile and locate the bill to open.
  3. On the next line under the category column, select the Discount item (income account).
  4. Enter the amount as negative in the Amount column.
  5. Hit Save.

 

Once done, you can now pay the bill with the discounted amount. Please follow the steps below.

 

  1. Click the Plus icon at the upper left corner.
  2. Choose Pay bills. Then, select a payment account.
  3. Select the checkbox for each bill to pay.
  4. Enter the amount of the payment to be applied to the open bill. If available, you can specify the amount of any credit to apply in the Credit Applied column.
  5. Select Save and printSave, or Save and close

 

For additional information, you can click this article: Enter and pay bills. This also provides steps on how you can pay your bills through checks and how you can apply partial credits to multiple bills.

 

Please check this article to see steps on how you can enter credit depends on how you record your purchases: Enter a credit from a vendor.

 

You can also refer to this article on how to run a report that will reflect all payments made to vendors: Run a report with vendor totals.

 

Please know that you're always welcome to post if you have any other concerns. Wishing you and your business continued success.

View solution in original post

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