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ReportWhat is the best way of offering discount on Invoice Entry window?
Terms Discount Taken or Trade Discount Available and difference between them???
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What is the best way of offering discount on Invoice Entry window?
Terms Discount Taken or Trade Discount Available and difference between them???
*This post is locked for comments
There are several ways of offering discounts and the "best" way depends on what you are trying to accomplish.
Sales reps could be allowed to negotiate prices and offer items at custom prices.
Mark Downs can be used line item by line item order by order to identify discounts as such.
A trade discount can be entered on the footer of specific orders
Trade discount percentages can be entered on the customer card and this would appear on every order
Terms codes can offer discounts for early payment and the "discount" recorded when the payment is recorded. These terms discounts can be accrued for in GL if you wish.
What are you trying to accomplish?
Hi Junaid.
Terms discount are discounts given to the customer at time of payment.
Usually these are incentive programs to have customer pay promptly before invoice due date (Example 2 % given if invoice paid with 10 days but terms are net 30 days)
Trade discounts are discounts given off the face of the invoice.
Hope this clarifys the difference
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