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Level 1

Paying invoices with discount terms. How to apply discount?

I am paying invoices to a vendor with discount terms. It is not applying the discount. How do I get the discount applied for the invoices I am paying per the terms?

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Best answer 10-15-2018

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Level 15

Paying invoices with discount terms. How to apply discount?

You have to use vendor credit, select an income account, enter the amount save

then use paybills, select the bill apply the credit, pay the balance

View solution in original post

5 Comments
Highlighted
Level 15

Paying invoices with discount terms. How to apply discount?

You have to use vendor credit, select an income account, enter the amount save

then use paybills, select the bill apply the credit, pay the balance

View solution in original post

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Level 2

Paying invoices with discount terms. How to apply discount?

I have been unsuccessful in determining how to do this.  On QBOPlus, when creating an account for discounts/rebates/refunds, assuming that is correct, the QBs tells me to use an expense account for vendor discounts, but you're saying to use an income account.  Obviously I need layman terms to understand what is being said here.    
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Level 15

Paying invoices with discount terms. How to apply discount?

account type = income
detail type = service fee income
click in the name block and retitle the account to say, discount income, save
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Level 1

Paying invoices with discount terms. How to apply discount?

We get charged frieght as so many others which we separate out on the vendor invoice.  How do I get the discount to only go against the goods purchased and not against the freight?

 

Thanx in advace.  We have easily 30 vendor invoices a day!

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Level 1

Paying invoices with discount terms. How to apply discount?

How do I exclude shipping from the discount ... it is already setup as a separate account 

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