Discount codes are used to link a general ledger discount
account to an invoice. The discount code determines where a payment discount is posted
if a discount is taken on the invoice. Payment discounts are based on the timing of your
payment. For example, a vendor may offer a three percent discount on invoices paid 30
days before the due date.
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Select .
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Click Create.
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Specify this information:
- Discount Point
- Select whether to apply the discount on the
invoice to the Cost of Goods or
Cost of Goods And Add On
Charge.
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Click Save.
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In the Discount Code Details section, click Create.
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Specify this information:
- Discount Account
- Select the discount account. The discount account is where the discount amount
is distributed.
- Allocation
- Select an allocation option. These options are available:
- To Discount Code: Select this option
to create a single distribution to the account on the
discount code detail. This option keeps existing
functionality.
- Prorate By Account: Select this
option to prorate the discount amount to each expense
distribution line. You can use the General Ledger Account
from the discount code detail and the rest of the dimensions
from each distribution line.
- Land To Expense: Select this option
to prorate the discount amount to each expense line by using
the full accounting string from each line.
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Click Save.