Adding a New Discount Rate

Discounts allow you to provide customers a price reduction or rebate to their invoice or account. This article contains information on how to add a new discount rate

To learn more about discounts, see Discount Use Cases and Calculations .

Steps

  1. Navigate to a company record and select the Discount Rates tab.
  2. Click Add Discount Rate.
  3. Complete the following fields as needed:
    • Effective Date: The date when the discount first goes into effect.
    • Title: Enter in a descriptive name for the discount to be applied.
    • Type: Select from Standard, Rebate, VMS Fee, or Other.
    • Ignore for Sales Tax Calculations: Determines if the discount is factored into the Sales Tax.
    • Calculate and Display on Invoice: Determines if the discount will display on the invoice.
    • Sent to Accounts Receivable: Determines if the discount should be sent to Accounts Receivable.
    • Priority: When using multiple discount rates, you can set the order in which the discount should apply.
    • Rate: The amount of the discount.
    • Status: Set whether the discount is currently active or inactive.
    • General Ledger Account: Enter in the account from your General Ledger or QuickBooks that is associated with the discount.
    • Product/Service Code: Enter in the applicable product or service code.
    • Location: Enter the associated location.
    • Earn Code: Select the earn code to which the discount is applied.
  4. Select Save to confirm your changes.

Interactive Example

Learn how to set up a Discount Rate yourself with this interactive example: