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Cash Receipts with Discount

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Posted on by LB_Pgh

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I have an invoice for $100 with a $2.00 discount.

I am paying within the appropriate time to get the $2.00 discount

I did a cash receipt where I did not enter any amount.

I then went to the Applies to Doc Id. Field and did not enter anything, just clicked OK to select it as it was the only invoice.

I really thought that I had seen it calculate that discount - that is, automatically populate the amount on the journal line as -98.

I did not enter 98 in the amount to apply.

I have not been able to replicate that so, I am thinking that I must be totally mistaken.

Am I mistaken and I have to calculate the amount - discount and enter that as amount to apply or am I correct that I say the amount auto calculate the discount to apply?

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JAngle 133 on at

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Under the process tab of the cash receipt you will find an apply entries button. If you access this without adding an “Amount” value it will populate the field for you once you’ve chosen invoices. It will then apply the discount as needed. Register customer payments is another page worth trying. It will also calculate the discount and apply it for you.

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LB_Pgh 265 on at

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Josh - first of all - thank you so much. You are the best

However, this is not working.

I checked and I didn't have the All Discounts checked. I now have

Then I clicked Process, Apply Entries - seeing

Hit Process and set applies to - seeing this

So, it should have been $98

What am I missing?

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LB,

Adding to what Josh wrote... I am going to make a Cash Receipt payment to my customer for one of the Invoices shown below, that has a Pmt. Discount Possible amount.

then I click Process/Apply Entries:

Notice I am paying for the 25.00 Invoice but the Discount of .50 is taken into account and the Cash Receipt Journal Amount is 24.50.

This will clear the AR Invoice and record the discount:

One important thing to note, Discounts can only be applied if the Pmt. Discount Date is still valid, not passed, and the Pmt. Disc. Tolerance Date is not passed.

Hope this helps.

Thanks,

Steve

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LB_Pgh 265 on at

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Thanks Steve - that is exactly what I would expect to happen and swear is what I have seen happen,

But something odd is happening.

I went into Cronus USA and created a new customer - gave them 1M(8D) terms - 2% if paid in 8 days and due is +1M

I created a sales order - 1 item at $100

If I look at customer ledger, it shows $2 discount with a Pmt. Disc Tolerance Date of 4/29/21 and an Appln Pmt. Disc Possible of $2

Today is 4/21 so due date is 5/21

Everything looks good.

I go into cash receipts and do the Apply Entries and Set the Apply ID - it sets the apply amount to $100

Further - if I do preview posting, it is not recognizing a discount

I have tried entering an apply to amount of 98. and it still thinks $2 is open even though it is well within the discount date

Everything looks right and it is not recognizing the discount

Could I be missing a setting

I am just mystified. This is why I tried it in my demo company/Cronus USA because what I was seeing in customer sandbox did not/does not make sense

Any additional thoughts appreciated

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LB,

When you click into Apply Entries, on the line make sure the Amount to Apply = 100.00 and that the Pmt. Discount Date >=TODAY and the Pmt. Disc. Tolerance Date >=TODAY. Make sure the Remaining Pmt. Disc. Possible = 2.00. If this is all good and Applies-to ID is set and you click OK, the payment journal line will show 98.00.

Hope this helps.

Thanks,

Steve

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LB_Pgh 265 on at

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Steve,

That is the crazy thing. All of this is looking good.

When you click into Apply Entries, on the line make sure the Amount to Apply = 100.00

I have tried with Amount to Apply as $100, as $0 and as $98

Pmt. Discount Date >=TODAY

This is 4/29/21 and TODAY = 4/21/21

Pmt. Disc. Tolerance Date >=TODAY.

This is 4/29/21 and TODAY = 4/21/21

Make sure the Remaining Pmt. Disc. Possible = 2.00.

Yes, this is $2.00

If this is all good and Applies-to ID is set and you click OK, the payment journal line will show 98.00.

It does not - it shows $100

This is what is so frustrating. I mean, the concept is surely straight forward and I've done it over and over - now not working !!

Tried to send you a screen shot but it snip is not pasting it for some reason

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LB,

Send screen shot to steven.chinsky@wipfli.com and I can look.

Steve

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