How to use Discounts for A/P

Appendix ››
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How to use Discounts for A/P

Appendix ››

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Discounts for A/P

Discounts never show on Operating Statements to the Investors.  When entering invoices, you are asked for a discount amount and a discount date.  If when paying the invoice, your specified pay date is within range of the discount date, the discount will be taken for you, automatically.  Otherwise, to take a discount, when paying invoices, you must call up individually the invoices for which you want to take a discount, apply the discount amount then pay the remainder.  Discounts always result in a credit to Discount Income (general ledger number 44444) and a debit to Accounts Payable. 


Related Topics 

Enter A/P Invoices 

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