It is relatively easy to add QuickBooks software discounts in an invoice irrespective of whether you are using the Premier or Pro version. The discount is the prerogative of the customer but having paid the bill much earlier makes a customer ineligible as preparation of the invoice and addition of the discount have to go hand in hand. Follow these simple steps to complete the process of adding discount to an invoice.
First go to QuickBooks and open it. Next, you will have to open your business within the application after which you need to click on Lists, Type and Discount. Having done this, look for the pop up Add New Account Discount which opens immediately.
Should you have more than one discount to offer to your client, make sure you give proper names for each discount. Names like senior and promotional discounts are appropriate. Simplicity is a key factor when thinking of names.
The Description box comes next where you describe the discount and this will emerge when you take a print out of the invoice for the customer. Regardless of whether you simply fill in a word or a phrase, you should ensure that whatever you write does not include unnecessary words. Write words that are not ambiguous and which are immediately understood.
After that, mention the discount amount that you want to offer. For this you need to click on the Amount or percentage symbol box. It is very important to keep in mind that in QuickBooks the amount is taken to be in dollars if you fail to suffix the percentage sign after the amount entered.
Now you have to create a Discount Expenses account. All the discounts you directly give to your customers are included as business expenses. It is because of this that you should not use the Discount accounts as these are for the discounts from vendors.
Don't be alarmed if a warning pops up in a window stating the non-existence of the account for Discount Expenses as all you need to do is click OK and it gets added. The window for Add New Account will have an icon labeled Expenses which has to be clicked. An OK click and you go back to the New Discount screen for another click on OK for instantly saving the discount.
Finally the specified discount has to be included in the column of the Item Code at the bottom of the invoice. QuickBooks automatically calculates the dollar amount as well as the percentage figure and will display the subtraction of the amount from the total sum of the invoice before factoring in the tax. Once the tax has been added, you have to either click on Save and Close or Save and New icons in order to save your invoice.
The process is now complete and your invoice has taken the discount into account. It will not take you long to discover the efficiency and accuracy of QuickBooks software discounts for calculating discounts. Convenience and simplicity are two other advantages that you will appreciate.
First go to QuickBooks and open it. Next, you will have to open your business within the application after which you need to click on Lists, Type and Discount. Having done this, look for the pop up Add New Account Discount which opens immediately.
Should you have more than one discount to offer to your client, make sure you give proper names for each discount. Names like senior and promotional discounts are appropriate. Simplicity is a key factor when thinking of names.
The Description box comes next where you describe the discount and this will emerge when you take a print out of the invoice for the customer. Regardless of whether you simply fill in a word or a phrase, you should ensure that whatever you write does not include unnecessary words. Write words that are not ambiguous and which are immediately understood.
After that, mention the discount amount that you want to offer. For this you need to click on the Amount or percentage symbol box. It is very important to keep in mind that in QuickBooks the amount is taken to be in dollars if you fail to suffix the percentage sign after the amount entered.
Now you have to create a Discount Expenses account. All the discounts you directly give to your customers are included as business expenses. It is because of this that you should not use the Discount accounts as these are for the discounts from vendors.
Don't be alarmed if a warning pops up in a window stating the non-existence of the account for Discount Expenses as all you need to do is click OK and it gets added. The window for Add New Account will have an icon labeled Expenses which has to be clicked. An OK click and you go back to the New Discount screen for another click on OK for instantly saving the discount.
Finally the specified discount has to be included in the column of the Item Code at the bottom of the invoice. QuickBooks automatically calculates the dollar amount as well as the percentage figure and will display the subtraction of the amount from the total sum of the invoice before factoring in the tax. Once the tax has been added, you have to either click on Save and Close or Save and New icons in order to save your invoice.
The process is now complete and your invoice has taken the discount into account. It will not take you long to discover the efficiency and accuracy of QuickBooks software discounts for calculating discounts. Convenience and simplicity are two other advantages that you will appreciate.
About the Author:
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