Is there a way in QBO to edit the terms on a bill for a percentage off if paid within so many days?

@accounting630  I assume your query is related to early payment discount (eg 2/10,Net 30)on bills you pay. 

As of now to apply the early payment discount, the discount% must be manually added to the bill once payment date meets the discount criteria as per the terms. Bill payment is recorded post the edit. 

Please note discount% shall not be added at the time of bill creation as its uncertain if the bill will paid early enough to get the discount. 

Hope this, helps, Do let me know if you have questions. 

Pai

Bookkeeper

I'm committed to helping you find the most effective solution for applying discounts to your bills in QuickBooks (QBO), @accounting630. Editing the terms on a bill for a percentage off if paid within so many days in QBO doesn't currently offer a direct feature. However, there are still other ways to add discounts to a bill. I'm here to walk you through the steps of adding discounts to bills in QuickBooks.

As @DrandCr has pointed out, applying an early payment discount in QBO requires a manual process. This discount should be added to the bill only after confirming that the payment date meets the criteria specified in the discount terms.

Additionally, another option is to create a Vendor Credit. This approach enables you to apply the credit as a discount when processing bill payments, providing a way to accurately reflect the early payment discount in your financial records.

Here's how:

1. Select the Plus (+) icon.
2. Click on Vendor Credit. Choose the vendor's name.
3. Fill in the necessary information.
4. Hit Save and close.

Once you've set up the Vendor Credit, it can be applied to the bill, functioning as a discount. To help you navigate this process, I've included an image below.

Furthermore, I'm adding this resource if you want to record a refund or credit from a vendor in QBO: Enter vendor credits and refunds in QuickBooks Online.

If you still have questions regarding how to add discounts and other data interpretations. Please don't hesitate to click Reply below. I'm just a click away.