We want to give our customer 2 options to payPayment terms would be 3% 10 days, 30 days netDiscount applies on amount before taxes, taxes still paid on full amount We would like the invoice to show both amountsFull amount if paid within 30 daysDiscount amount if paid within 10 days of invoice date.One of our vendors does this with us.Is there a feature in QuickBooks Enterprise which allows us to show the optional discount amount a customer can take? Ideally if it showed both amounts so the customer does not need to do any calculations.Below is an example from our vendor showing the $ amount discount we can take on payment.

Hello again mife, It's awesome that you're able to offer your customers this sort of deal and I can appreciate how making sure all of the information is on the invoice ensures you're both on the same page and that there's no confusion in terms of what's owed. I'll gladly go over the options in QuickBooks Enterprise with you. I appreciate the screenshot of what your vendor does to provide you with the details you need for this kind of situation. Based on what I'm seeing in the image you provided, what they do may be similar to what I'm going to recommend you do in QuickBooks Enterprise: use the Customer Message field when creating a transaction to include the difference in price when the customer meets the parameters for the discount. While there are options to set up terms to show things like 1% 10 Net 30, meaning they get a 1% discount if paid within 10 days but the full amount is owed within 30, the program won't display the calculations for your customer. This means you can easily set up your 3% 10 Net 30 term to show the customer the terms, but using the Customer Message field will allow you to let the customer know the specific calculations so they'll see what they'd be saving. In case you need them, here are the steps to set up your payment terms.Select Lists from the top menu.Hover over Customer & Vendors Profile Lists.Choose Terms List.Click the Terms button at the bottom of the window, then New.Fill in the Terms details.Click OK when done.If your customer makes the payment within the 10 days, it'll mean going back to the invoice to edit it and add the discount line before going in and applying the payment to it afterward. That way, your books will be balanced. The discount can be added as a line item. This is created by going to Lists > Item List > Item button > New > Discount if you don't already have one set up or would like to set up a new one. Once it's in the system, you'll be able to add it under the line item that's being discounted. If it's the entire invoice amount being discounted and there are multiple line items, be sure to add a Subtotal line first. That way, the discount will calculate from the subtotal amount. If you don't have a Subtotal item set up, you can follow the steps for the discount item, but choose Subtotal instead. This is a great opportunity for feedback to our product development team. Our goal is to continue to expand upon what the program has to offer, and feedback from users like you helps us do that. To leave us feedback, choose the Help menu in QuickBooks and choose Send Feedback Online. Give me a shout if you need clarification about any of this!

M

mife

Question

Second payment term for early payment incentive

Forum|Forum|6 years ago
June 2, 2020
1 reply
0 views

We want to give our customer 2 options to pay

Payment terms would be 3% 10 days, 30 days net

Discount applies on amount before taxes, taxes still paid on full amount

We would like the invoice to show both amounts

Full amount if paid within 30 days
Discount amount if paid within 10 days of invoice date.

One of our vendors does this with us.

Is there a feature in QuickBooks Enterprise which allows us to show the optional discount amount a customer can take? Ideally if it showed both amounts so the customer does not need to do any calculations.

Below is an example from our vendor showing the $ amount discount we can take on payment.

QuickBooks Enterprise Suite

L

LauraAB

Hello again mife,

It's awesome that you're able to offer your customers this sort of deal and I can appreciate how making sure all of the information is on the invoice ensures you're both on the same page and that there's no confusion in terms of what's owed. I'll gladly go over the options in QuickBooks Enterprise with you.

I appreciate the screenshot of what your vendor does to provide you with the details you need for this kind of situation. Based on what I'm seeing in the image you provided, what they do may be similar to what I'm going to recommend you do in QuickBooks Enterprise: use the Customer Message field when creating a transaction to include the difference in price when the customer meets the parameters for the discount.

While there are options to set up terms to show things like 1% 10 Net 30, meaning they get a 1% discount if paid within 10 days but the full amount is owed within 30, the program won't display the calculations for your customer. This means you can easily set up your 3% 10 Net 30 term to show the customer the terms, but using the Customer Message field will allow you to let the customer know the specific calculations so they'll see what they'd be saving.

In case you need them, here are the steps to set up your payment terms.

Select Lists from the top menu.
Hover over Customer & Vendors Profile Lists.
Choose Terms List.
Click the Terms button at the bottom of the window, then New.
Fill in the Terms details.
Click OK when done.

If your customer makes the payment within the 10 days, it'll mean going back to the invoice to edit it and add the discount line before going in and applying the payment to it afterward. That way, your books will be balanced.

The discount can be added as a line item. This is created by going to Lists > Item List > Item button > New > Discount if you don't already have one set up or would like to set up a new one. Once it's in the system, you'll be able to add it under the line item that's being discounted. If it's the entire invoice amount being discounted and there are multiple line items, be sure to add a Subtotal line first. That way, the discount will calculate from the subtotal amount. If you don't have a Subtotal item set up, you can follow the steps for the discount item, but choose Subtotal instead.

This is a great opportunity for feedback to our product development team. Our goal is to continue to expand upon what the program has to offer, and feedback from users like you helps us do that. To leave us feedback, choose the Help menu in QuickBooks and choose Send Feedback Online.

Give me a shout if you need clarification about any of this!

Sign up

Login with SSO

Login to the community

Login with SSO

Scanning file for viruses.

This file cannot be downloaded