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I need to set up a vendor term that takes a 4% discount if paid in 30 days. You can set up the description of the term but how do you get it to actually take the 4% off?

 
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QuickBooks Team

Re: I need to set up a vendor term that takes a 4% discount if paid in 30 days. You can set up th...

I’m happy to see you in the Online Community, lori6.


I’ll be your guide in setting up the term and discount, so you’ll be able to use them for your vendor transactions.

Currently, the option to automatically apply a discount for your vendor is unavailable. As a workaround, create a discount item and then manually enter a negative amount on a separate line item.

 

To create a discount item:

 

  1. Go to the Gear icon at the top.
  2. Under Lists, select Products and Services.
  3. At the top right, select New.
  4. Select Non-inventory or Service type, then fill in the fields.
  5. In the Name field, enter Discount.
  6. In the Sales price/rate field, enter the discount amount as a negative.
  7. From the Income account drop-down, select the appropriate account.
  8. Make sure the Is Taxable is not checked.
  9. Click on Save and close.

We're always updating QuickBooks based on customer recommendations. I'd suggest sharing your thoughts about this feature directly to our product engineers for consideration in a future update.

 

To send feedback:

  1. Go to the Gear icon at the top.
  2. Select Feedback.
  3. Enter your suggestion, then click Next.
  4. Select Skip and send message, choose Feedback as the Category.
  5. Once done, click on Send message.

As you do that, I'll personally let them know that the feature to apply discounts on vendor transactions is important for your business.

 

Don't hesitate to let me know if you have questions working in QBO. Please know that I'm just a click away. Wishing you the best.