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.
Parties Responsible for Process
Accounting
Middle Office
Adding Discounts (VMS Details)
1. Click on DISCOUNTS
2. Click on ADD DISCOUNT
3. Fill in the information
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.
See Discount Use Cases and Calculations below for more information.
Calculate and Display on Invoice: Determines if the discount will display on the invoice.
See Discount Use Cases and Calculations below for more information.
Sent to Accounts Receivable: Determines if the discount should be sent to Accounts Receivable.
See Discount Use Cases and Calculations below for more information.
Priority: When using multiple discount rates, you can set the order in which the discount should apply.
See Discount Use Cases and Calculations below for more information.
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.
