FrontAccounting forum — payment discount

Re: payment discount

null@example.com (joe) — Tue, 17 May 2011 08:19:15 +0000

Yes you can handle these transactions in one Journal extry.

/Joe

Re: payment discount

null@example.com (barneyfa) — Mon, 16 May 2011 15:34:46 +0000

Ah yes.
And do I have do add two records?
One for tax account and one for discount account?
Or can i handle this with one action?
barney

Re: payment discount

null@example.com (joe) — Mon, 16 May 2011 13:42:35 +0000

Ah, I was referring to Journal Entry in Bank and General Ledger tab.

/Joe

Re: payment discount

null@example.com (barneyfa) — Mon, 16 May 2011 10:29:11 +0000

Which is the program / module for doing manual entry?
barney

Re: payment discount

null@example.com (joe) — Mon, 16 May 2011 07:08:53 +0000

This was only related to the Tax on the Invoice. You will have to credit the appropriate taxes included in the discount amount. This is often very minor and not normally taken care of. But if you will you can do this. Please use the memo field to indecate the Invoice no.

/Joe

Re: payment discount

null@example.com (barneyfa) — Sun, 15 May 2011 16:05:55 +0000

Hi Joe,

how to make a manual entry?

And: If I have to do it the manual way, what is the 'Prompt Payment Discount Account' in the customer-branch for?

Beste regards,
barney

Re: payment discount

null@example.com (barneyfa) — Fri, 13 May 2011 11:55:46 +0000

I see...
I wonder, why this is not a standard feature.
Here almost 80% of the people make use of discount. You simply can't save more.

Best regards,
barney

Re: payment discount

null@example.com (joe) — Fri, 13 May 2011 07:38:53 +0000

If this is of importance to you, you can do a manuel journal entry for this. This is mostly of minor values and your invoice still have the values as indicating on the invoice.

/Joe

payment discount

null@example.com (barneyfa) — Thu, 12 May 2011 12:01:22 +0000

In 2009 Joe wrote:

-------------------------------------------------------------
Due to various rules on how to calculate the percent I will demonstrate how it works:

Customer A has marked 2.5% for prompt payment discount. We issue an invoice on $125.
You get payment from your customer A. A field indicates that customer A has prompt payment discounts on 2.5% (only informative field). You decide if this is a prompt payment and then it is up to you to split the fysical payment and the discount field (due to various rules on how to calculate ev. tax). If you want full 2.5% on $125 and you got $121,87 from Customer A you enter that in the first field and the discount $3,13 in the second field.
Now you process the payment and if you continue to immediate allocation you will see that everything end up right-

/Joe
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Which modul did Joe described: 'customer payments' or 'allocate customer payments'?
And what about tax, if discount was given? I think, it should be, if not must be reduced.
Am i wrong?

barney