Hello,

We have a problem in the payables module regarding the term discount not apply for credit invoices when we are making payment. For example, we are take 2% discount if we are paying within 10 days. The system will automatically apply 2% on invoices. However, it will not apply to the credit notes. Is there anyway to fix it since it is hard for us to manually change it if we are making a payment for over 100 documents together?

Thanks,

Mavis

Cash discount on a Credit Note?......

Hi Mavis

If you want to take a discount on a credit note, then enter it as a negative invoice instead. There may be a way to do it as a credit note (someone else can post an answer), but I KNOW it will work my way.

Steve

Hi,

They are actually return invoices entered as credit note.

Thanks,

Mavis

I have to ask...

What on earth is a discount on a credit note? How would that work?

It sounds like they are being kind to their vendors. If they make a purchase for $1000 then return half for credit of $500, it is fair to apply the 2% to both invoice and credit, resulting in discount of $10, not $20.

Of course, this would work just as well if credits were immediately applied to the related invoices resulting in a lower amount due. But the timing may not work since they are paying the invoices quickly and the credits may lag behind.

We have two big vendors who are offering 2% discount for all current month if we are paying on the last day of the month. Therefore, the 2% discount is on the total of all purchase invoices and return invoices together before GST. For purchases invoices, 2% discount will automatically apply. However, it does not automatically apply for return invoices.

For Example: Invoice # 1 $105.00 Discount $2.00 NetPmt $103.00
Credit Note #1 ($10.50) Discount($0.20)NetPmt (10.30)
Total Payment should be $92.70

The discount $2.00 will be automatically in, but the ($0.20) won't be in unless manually entered. We normally have at least 50 invoices and returns to pay for each supplier. How can we make the system calculate discount for credit invoices?

Thanks,

Mavis

I've never heard of that before, and I must admit it makes my head hurt. However, it makes a certain odd sense, so I'll record the suggestion. In the meantime, negative invoices are your only option.