Payments

Thanks for coming by, @MDCahill.

I have some information about how discounts should be recorded in QuickBooks. Since the discount is applied when paying the bills, you'll want to record it as income. There will be a price reduction instead of adding to the cost. However, I'd still recommend consulting with an accountant to make sure your books are accurate.

To do this:

1. Go to the Vendors menu. Then, select Pay Bills.
2. Choose the vendor bill. Then, tap the Set Discount button.
3. Enter the Amount of Discount. Pick the Discount Account. See the image below.
4. You can click Add New if the income account is not yet listed.
5. Click Done. Then, Pay Selected Bills.

Check out this guide for more information about paying bills: Pay bills in QuickBooks Desktop.

If you need help with other tasks in QBDT, feel free to browse this link here to go to our general topics with articles. Just look for responses that suit your concern.

Don't hesitate to leave a comment below if you still have questions or concerns with vendor. I'm always here for you. Take care and have a nice day ahead.