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M
mandinshawn-gmai
April 6, 2024
Question

How do I record expenses (i.e. banking fees) on client invoices so the invoices show as fully paid?

  • April 6, 2024
  • 1 reply
  • 0 views
Special circumstances create fees against my invoices that are my expenses (i.e. early-pay discounts). One of my client offers an early-pay (EP) option for a discount on the invoice amount, however, they cannot guarantee that they'll be able to pay early, so I can't apply it at the time of the invoicing. When I receive payment, I apply the amounts to the invoices, and for those in which they paid early, the payment amount is less than the invoice amount, therefore it's showing as still due. How do I record the EP fee against each invoice, as my expense, to clear the "balance due" on the invoices - without editing the invoice by adding a discount after-the-fact? Thank you!

1 reply

L
LollyNino_C
April 6, 2024

It's a pleasure to have you here, Mandinshawn.

 

QuickBooks Online allows you to apply discounts to your sales transactions, such as invoices. However, please note that discounts can only be added during the creation of the transaction. When you receive payment, the figures displayed will show the total amount of the entry, including the discount. Below, I've included some steps to use the discount feature in QuickBooks Online.

 

First, you'll need to turn on the feature from your account settings. Here's how: 

 

  1. Click on the Gear icon at the top and choose Account and Settings. 
  2. Select the Sales tab on the menu.
  3. In the Sales form content section, hit the pencil icon to edit it.
  4. Enable the Discount button to turn it on.
  5. Then tap on Save and then Done.

 

Once you've turned on the discount feature, you'll see the option to include a discount at the bottom of your sale forms. I've included a screenshot to reference below.

 

 

To learn more about applying discounts in QuickBooks Online, check out this article: Add a discount to an invoice or sales receipt in QuickBooks Online.

 

Moreover, running sales reports in QBO is a breeze to keep track of your revenue. You may also customize them to focus on the details most relevant to your business.

 

I want to ensure that all of your concerns are addressed properly. Should you need help with applying discounts to sales receipts in QuickBooks Online, you can always ask your question here by hitting the Reply button or starting a new thread. The Community Team is always ready to back you up anytime. Have a great day!

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