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warren6
Level 2

How do you capture a settlement discount ?

 
Solved
Best answer December 14, 2020

Best Answers
RaymondJayO
Moderator

How do you capture a settlement discount ?

Thanks for posting in the Community, @warren6

 

You can set up invoice terms and turn on the discount feature in the program. This way, you can capture a settlement discount for early payment of an invoiced amount. I'll guide you how.

  1. Go to the Settings (Gear) icon at the upper right.
  2. Select Account and Settings.
  3. Go to Sales from the left menu.
  4. Choose Sales form content
  5. Select your Preferred invoice terms
  6. Check the Discount box. 
  7. Click Save.
  8. Hit Done.

 

The screenshot below shows you the last six steps. 

TurnOnDiscountFeature.PNG

 

Once done, apply the discount to your customer's invoice or sales receipt. Here's how: 

  1. Go to the + New button from the left menu. 
  2. Select Invoice or Sales receipt under Customers
  3. Choose the Customer
  4. Verify the Terms
  5. Add the product and amount. 
  6. Select either Discount percentage or Discount value.
  7. Enter the amount you want to discount in the Discount field.
  8. Click Save.

 

See the screenshot below to show you the last six steps. For detailed instructions, check out this article: Add A Discount To An Invoice or Sales Receipt

ApplyTheDiscountToAnInvoice.PNG

 

After that, please record the early payment of your customer. Just go to the + New button from the left menu and choose Receive Payment. To learn more about this process, visit this article: Record Invoice Payments

 

I'll be right here to help if you need further assistance. Have a great day, @warren6.

View solution in original post

MaryLurleenM
Moderator

How do you capture a settlement discount ?

Welcome back, warren6.

 

The settlement discount can only be added by the time your customer has paid the invoice. Thus, the need to go back to each transaction and adjust the amount.

 

I can see how easier it would be if only you can apply it at once.

 

Just in case you want to personalise your sales forms, here's an article you can read for the detailed steps and information: Customise invoices, quotes, and sales receipts in QuickBooks Online.

 

Please know that you can visit our Community forum again if you have other concerns with QuickBooks Online.

View solution in original post

4 Comments 4
RaymondJayO
Moderator

How do you capture a settlement discount ?

Thanks for posting in the Community, @warren6

 

You can set up invoice terms and turn on the discount feature in the program. This way, you can capture a settlement discount for early payment of an invoiced amount. I'll guide you how.

  1. Go to the Settings (Gear) icon at the upper right.
  2. Select Account and Settings.
  3. Go to Sales from the left menu.
  4. Choose Sales form content
  5. Select your Preferred invoice terms
  6. Check the Discount box. 
  7. Click Save.
  8. Hit Done.

 

The screenshot below shows you the last six steps. 

TurnOnDiscountFeature.PNG

 

Once done, apply the discount to your customer's invoice or sales receipt. Here's how: 

  1. Go to the + New button from the left menu. 
  2. Select Invoice or Sales receipt under Customers
  3. Choose the Customer
  4. Verify the Terms
  5. Add the product and amount. 
  6. Select either Discount percentage or Discount value.
  7. Enter the amount you want to discount in the Discount field.
  8. Click Save.

 

See the screenshot below to show you the last six steps. For detailed instructions, check out this article: Add A Discount To An Invoice or Sales Receipt

ApplyTheDiscountToAnInvoice.PNG

 

After that, please record the early payment of your customer. Just go to the + New button from the left menu and choose Receive Payment. To learn more about this process, visit this article: Record Invoice Payments

 

I'll be right here to help if you need further assistance. Have a great day, @warren6.

View solution in original post

Andre Lombard
Level 1

How do you capture a settlement discount ?

 
warren6
Level 2

How do you capture a settlement discount ?

Hi @RaymondJayO 

This is how I have been doing it,  once customer pays at month end and he takes 2.5% settlement discount I go to all the invoices related to payment and make them including vat then put in the 2.5% discount and repeat for all that months invoices, I was hoping there was an easier way.

 

Thanking you

MaryLurleenM
Moderator

How do you capture a settlement discount ?

Welcome back, warren6.

 

The settlement discount can only be added by the time your customer has paid the invoice. Thus, the need to go back to each transaction and adjust the amount.

 

I can see how easier it would be if only you can apply it at once.

 

Just in case you want to personalise your sales forms, here's an article you can read for the detailed steps and information: Customise invoices, quotes, and sales receipts in QuickBooks Online.

 

Please know that you can visit our Community forum again if you have other concerns with QuickBooks Online.

View solution in original post