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Cassandrafish
March 18, 2021
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Adding Fees to Vendor Payments

  • March 18, 2021
  • 2 replies
  • 0 views

I need to set up a way to charge vendors a % for getting paid quickly. If they choose pay terms of 6% 3 Day, I would like to enter that in their vendor profile and then have their bill automatically reduced by 6%, how can I do that?

Best answer by Rubielyn_J

I’m happy to help you set up fees for vendor payment in QuickBooks, @Cassandrafish.

 

We can create a pay term in your vendor's profile. Let me show you how: 

 

  1. Go to the Vendors menu and then select Vendor Center.
  2. Double click the name of the vendor. 
  3. Select the Payment Settings tab.
  4. Click the Payment Terms dropdown menu and click Add new.
  5. Enter the term's name, input the Net due to 3, and the Discount percentage which is 6%.
  6. Once done, click OK.

 

Then, you can start entering bills for your vendors. After you record what you owe to your vendors, you can go to the Pay Bills window to settle your payables.

 

That should do it. Let me know if you have any issues after following those steps. I’m always here to help. Have a good one!

2 replies

Rubielyn_J
Rubielyn_JAnswer
March 18, 2021

I’m happy to help you set up fees for vendor payment in QuickBooks, @Cassandrafish.

 

We can create a pay term in your vendor's profile. Let me show you how: 

 

  1. Go to the Vendors menu and then select Vendor Center.
  2. Double click the name of the vendor. 
  3. Select the Payment Settings tab.
  4. Click the Payment Terms dropdown menu and click Add new.
  5. Enter the term's name, input the Net due to 3, and the Discount percentage which is 6%.
  6. Once done, click OK.

 

Then, you can start entering bills for your vendors. After you record what you owe to your vendors, you can go to the Pay Bills window to settle your payables.

 

That should do it. Let me know if you have any issues after following those steps. I’m always here to help. Have a good one!

Rubielyn_J
Rubielyn_J
March 22, 2021

Hi, @Cassandrafish.

 

Hope you’re doing great. I wanted to see how everything is going about adding fees to the vendor payments concern you had the other day. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at any time.

 

Looking forward to your reply. Have a pleasant day ahead!

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