It seems crazy given all the automated aspects of QBO one must manually enter discounts received from vendors for early settlement invoice by invoice. What am I missing>

Hello there, @Serge01.

I have some insights to share with you on how you can set up discounts in QuickBooks Online so you will no longer enter them manually.

You can turn on the discount feature in the system so you'll be able to apply discounts for your vendor's early settlement.

Here's how:

1. Click on the Gear icon at the top.
2. Select on Account and Settings.
3. Refer to the Sales menu.
4. Choose Sales form content. 
5. Put a check-mark on the Discount box. 
6. Click on Save.
7. Hit on Done.

After that, you can now use the discount field in your sales transactions.

To do that:

1. Press on + New at the left pane.
2. Select on Invoice.
3. Add the products and services. 
4. Select on Discount percentage or Discount value to enter the discount as a percentage or a specific amount.
5. Enter the amount you want to discount in the discount field.
6. If you want to discount the total before you calculate sales tax, select the arrow icon next to the discount field.
7. Hit on Save and send or Save and close.

You can also use this link as your reference in this set up: Add a discount to an invoice or sales receipt in QuickBooks Online.

Lastly, here are some articles that can guide you in recording customers payments and customizing sales forms in QBO, in case you need them in the future:

• Record invoice payments in QuickBooks Online
• Customise invoices, quotes, and sales receipts in QuickBooks Online

I've got your back if you need further assistance, Serge01. Have a good one!

Thank you so much for this BettyJane - this would have been the next problem I encountered

The problem that I am currently referring to is not discounts allowed to Customers and accordingly captured using the Discount facility on the Invoice, but rather Discounts Received from Vendors / Suppliers at such time that payment is made before a certain date - namely early settlement discount. 

What I now have is numerous bills captured in QBO  direct from Receipt Bank. When I pay said bills I will be paying a smaller amount than what appears in the Vendor / Supplier account and there will be a balance left over.

It seems that the only route is to go into each and every bill and add a line for this discount to be received and write this to Discount Received as an Other Income item. It kind of eliminates the amazing use of Receipt Bank in capturing all the bills without a keystroke. Please advise.

You're on the right track, @Serge01!

As of the moment, there isn't an integrated way of tracking all discounts for your bills from your vendors. What you have been doing is the only option available, creating an additional line item as the discount for your bills.

But don't worry, I'll pass along your request to our product engineers so they know of your requests. Feedback from our customers, like you, help us improve our software's functionality to offer better services.

In addition, here's an article you can read to learn more about our latest functionalities and improvements: QuickBooks Resource Center.

Lastly, I've got you these few articles for ideas in managing your vendors and expenses: Manage Suppliers and Expenses for QuickBooks Online.

If there's anything else that I can help you with, please let me know in the comments down below. I'll be happy to help.

Hi

Why do the default payment terms as set up in the supplier detail form not transfer to the individual bills. Surely it is not necessary to have to open each and every bill received and enter the terms. The terms are known - why are they not transferring across, ie. what am I doing wrong?

I ask this because since QBO has no facility to manage early payment discounts I need to export the unpaid bills report to excel and manually enter the payment amount due (invoice total minus the discount). When looking at the report I should see the terms and quickly copy the discounted amount to those suppliers that provide this early settlement discount as opposed to memorising which suppliers offer same

Hello, @Serge01.

When creating a bill, the terms you've assigned to a specific supplier should automatically be automatically included. Let's make sure to remove the default bill payment terms set up in your QuickBooks account.

Here's how:

1. Go to the Gear Icon.
2. Choose Account and Settings.
3. Select the Expenses menu.
4. From the Bills and expenses section, click the Pencil Icon.
5. Remove the default bill payment terms.
6. Click the Save button.
7. Hit Done.

Once completed, you can try creating a bill again. 

On the other hand, you can generate and customize your Transaction List by Supplier report. This way you'd see a list of your transactions grouped by supplier.

Here's how:

1. Go to the Reports menu.
2. Scroll down to the Expenses and Suppliers section.
3. Choose the Transaction List by Supplier.
4. Click the Gear icon above the Amount column.
5. Make sure to mark the Terms tick box. 
6. Click the Run Report button. 

Get back to us here if you have other questions about managing your bill transactions in QuickBooks. I'm always here to help.