Adjusting Payment Discount Date
The Payment Discount Date field may be edited to compensate for a late posting of payments that should receive a payment discount. Adjusting this date to a date within the payment discount terms will allow the payment discount calculation to appear.
For example: The customer terms are 5% 10th, Net 30th (means the customer will receive a 5% payment discount if they pay the current balance by the 10th of the next month, otherwise the invoice will be due on the 30th of the next month. If the customer's payment is processed on the 11th without changing the Payment Discount Date, the customer will not receive a payment discount automatically. If the Payment Discount date were changed to the 10th, the payment application screen will automatically post the payment. In either case, the user has complete control over the payment discount amount. If the user wants to adjust the payment discount amount, they simply change to the Pay Disc. column and enter the appropriate amount of discount.
The payment screen will accept cash, check, credit card, and gift card as valid forms of payment. Enter any notes if appropriate.
Applying Payment Discounts
Sometimes, you may want to apply a payment discount to a customer for any number of reasons. Applying discounts can occur at any time with any customer. To do this, do a Pay on Account. When asked for the amount, leave the amount at zero and press Enter. This will enable you to click the Next button and once you can, click Next.
After clicking next, a pop up will ask if you want to cancel the payment on account. If you read closely, clicking No will continue to the application screen, allowing you to apply discounts. Click No to proceed to the payment application screen.
From the Payment Application screen, click Manual to enter in the payment discount amount manually. Find the invoice or multiple invoices to apply the discount to, enter the amount, and once you are satisfied with the discount amounts, click Post Payments.
Applying Discounted Payments
When a customer gets their statement, they may have a $537.42 balance on their account, but only have to pay $500 due to a discount. The system will show the full $537.42 balance. If you entered the payment as 500, the account would still show 37.42 dollars. Below is a guide on how to post the payment correctly.
Go to AR | Payments | Pay on Account. When you are on the payment screen, enter the amount on the check (550). On the Payment On Account (Application) screen, click the Manual button. Enter the amount of the check within the Payment column on the various invoices (in the below image, there is only one invoice; use the full amount of the check by checking to see how much is left in the payment box above). Once the payment has been fully applied, you should see the "Current" amount remaining on each invoice. In these fields, enter the discount in the Pay Disc. field. As shown below, once entering the discount amount, the Current will zero out. If you have multiple invoices, make sure they all zero out. Once this is done, click Post Payments.
