QuickBooks 2011: The Missing Manual

Discounting for Early Payment

Customers aren’t eligible for early payment discounts until they actually pay early, so it makes sense that you apply such discounts in the Receive Payments window. The process for applying an early payment discount is almost identical to applying a credit. In fact, if an invoice qualifies for both a credit and an early payment discount, you can apply them both while the “Discount and Credits” dialog box is open.

Note

If the discount is for something other than an early payment, such as a product that’s on sale, you add a Discount item to the invoice instead (Applying Subtotals, Discounts, and Percentage Charges).

Here’s how to apply an early payment discount to a customer:

1. On the Home page, click Receive Payments.

2. In the Receive Payments window’s Received From drop-down list, choose the customer or job for the payment you received.

   In the table of open invoices, QuickBooks shows all the invoices or statements that aren’t paid.

3. Click anywhere in the row for the invoice or statement that the customer paid early (except the checkmark column, that is).

   QuickBooks applies the payment to the invoice. If the customer already deducted the early payment discount, the Receive Payments window shows an underpayment (Receiving Payments for Invoiced Income).

4. To apply the early payment discount, click Discount & Credits.

   QuickBooks opens the “Discount and Credits” dialog box. If the Credits tab is visible, click the Discount tab to display the Discount fields shown in Figure 13-8 ...