I would like to add for example a 8% discount on the total owing to my supplier - We get discount if we pay before 30 days.
There are a couple of options - which depend upon when you know you will earn the discount.
If you know when you are processing the Suppliers Invoices then you can use discount field.
If you don’t know until the payment then add a discount line to the payment regardless of you using either Accounts Payable or Suppliers Credits. You enter the discount amount as a minus
Thank you so much…I will use the 2nd option.
Would just be nice if the Supplier Balance owing I see on the reports could already deduct the 8% discount so I can see the Actual Amount due to the supplier.
You can - if you use option 1
If I use option 1 my Invoice amount will be less - So the invoice amounts will differ from my supplier statement?
You can’t have both
- Would just be nice if the Supplier Balance owing I see on the reports could already deduct the 8% discount
- my Invoice amount will be less - So the invoice amounts will differ from my supplier statement
Managers reports can’t show the discount while also being matched to the Supplier Statement
Unless when you process the Invoice you also process a separate credit note to the Discount Account
Thank you so much for your help!! Much appreciated!