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Level 1

Is there current information for entering early pay discount? I do not have Discount Button. I do not have option in Terms to set up discount. Please advise.

This is for Vendor. ex: Terms 1% 10, net 30 days.
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QuickBooks Team

Is there current information for entering early pay discount? I do not have Discount Button. I do not have option in Terms to set up discount. Please advise.

Hi there, karen91.

 

I can provide information about entering pay discount s in your vendor transactions.

 

Currently, the option to set up and automatically add discounts based on terms is unavailable in QuickBooks Online. I suggest creating a discount item. Then manually enter a negative amount on a separate line on the Bill page.

 

Here's how to create s discount item:

 

  1. Click the Gear icon at the upper right corner.
  2. Under Lists, select Product and Services.
  3. Hit the New button.
  4. Choose Non-inventory or Service type.
  5. Enter Discount from the Name field.
  6. In the Sales price/rate field, enter the discount amount as a negative.
  7. Choose e appropriate account in the  Income account drop-down list.
  8. Make sure that Is Taxable is not checked.
  9. Hit the Save and Close button.

 

Once done, you can now create a bill and use the discount item you created. Then, and manually enter the negative amount as a discount. Please follow the steps below.

 

  1. Click the Plus icon at the left panel.
  2. Choose Bill.
  3. Choose a vendor.
  4. From the Terms drop-down menu, select your preferred bill's term. The terms show when the vendor expects payment.
  5. Go to the Items details section. Then choose the Discount item you created in the Product/Services column.
  6. Enter the discount amount in the Amount column.
  7. Hit the Save and Close button.

 

For additional information, please check this article: Enter and pay bills. This also provides how you can pay multiple bills in QBO.

 

Please let me know if you ave other questions related with QuickBooks. I'm always here to help you.

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