I have a few questions about the Discounts in Invoices:

1. Am I correct in assuming that the discount date is set based on the terms code retrieved from Receivabels?

2. In the case of a discounted invoice, what data is passed to Receivables? That is, is the AR amount due the discounted amount?

3. If so, how is the undiscounted amount reflected in AR after the due date?

Hello Ralph,

Yes, you are correct. For a new invoice, the Terms code that is displayed on the Totals page comes from the customer?s record. The Discount date is calculated from the Invoice date and the Terms code.

The Total after tax is sent to Receivables unless Retainage is on. In this case, the Net Invoice amount is sent to Receivables.

If you wanted to send a discounted Invoice to Receivables, you may want to do a Price Adjustment on a detail line or add another detail line for the Discount.

The Discount date only affects whether or not a discount amount will be calculated when the Invoice is paid.

If a customer has discount terms and the Discount base on the Totals page was also filled in, Receivables and BankRec will use the Discount rate, the Discount base, and the Discount date, to calculate early payment discounts.