How can I set up terms to accept an early payment discount on bills I have to pay. such as 3% 90days 150 net. I will receive a 3% discount if I pay my vendor/bill early

Hello, 27putters-inc-gm.

I'll show you how to enter the early payment discount on vendor bills. 

QuickBooks Online doesn't have the early payment discount feature like in the Desktop version.

However, there are two workarounds to apply early payment discounts in bills in the Online version. 

The first workaround is to create a discount account and use it on your bill. Here's how: 

1. Go to your Chart of Accounts. 
2. Click the + New button. 
3. Set the Account Type to Other income, then select Other Miscellaneous Income for the Detail Type. 
4. Enter a name such as "Early payment discount" or similar. 
5. Click Save and Close. 

The account is usually an income account but check with your accountant to verify the appropriate type. This ensures your books are correct and balanced. 

If you already have an existing bill, simply open and edit it then add the discount account. Enter the amount as a negative value to deduct it from the total due. 

Alternatively, you have the option to create the bill at a later date. Though, make sure to enter the bill date correctly (when the vendor issued the bill to you). 

Finally, create a bill payment when you're ready to pay it by clicking the + New button, then selecting Pay bills. 

The second method is to simply use a vendor credit for the percentage discount:

1. Click the + New button, then select Vendor credit.
2. Add the vendor's profile under Vendor. 
3. Select the account or item used on your vendor bill.
4. Manually calculate the discount percentage. 
5. Add a memo or any other important transaction details.
6. Once done, click Save and close. 

Create a bill payment by opening the bill, then clicking on Mark as paid. Check the vendor credit under the Credits section. 

If you went to the Pay bills function, ensure that the credit amount is automatically entered under Credit Applied. 

After recording and paying the bill, would you like to compare your Profit and Loss reports with a different period? Check out this article for a guide: Run a Profit and Loss Comparison Report.

Do you have more transactions to record in QuickBooks? Let me know and I'll gladly lend a hand. If you'd like to run specific reports or other tasks, lay down the details below and I'll help you out. 

So short answer, you can’t do it!!!

thanks. I will be switching back to desktop this afternoon.  
discounts are basic.  This walk around is annoying to say the least. 
no thank you.

Yet another reason we  refuse to go to QBO - I guess we will have to look for new software soon, as Intuit is pushing us toward a less feature-rich version.