Just as Lisa’s Candle Shop must sometimes offer purchase discounts to sell items, suppliers also face similar situations. The two most common types of discounts are ones offered for purchasing a large volume of goods or ones offered to encourage early payment of invoices.
Your accounts payable manager should be certain the department has a process in place to take advantage of purchase discounts. For example, if there is a 2 percent discount for a 30-day invoice paid in 10 days, the accounts payable manager is the one responsible for being certain the invoice is paid in time to take advantage of that discount. Frequently ...