Whether it is the Premier version or the Pro version, factoring QuickBooks software discounts into an invoice can be more or less the same. It is mainly the customer who stands to benefit from the discount but the discount becomes invalid in case the customer has already paid the bill at an earlier date as it has to be included in the invoice directly after being made. Below you will find a step-by-step guide to the process.
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.
The amount of discount you want to offer is what you have to mention next. To do this, go to the Amount or percentage symbol box and click on it. An important fact to remember is that with QuickBooks, failure to add the percentage sign once you write the amount will be considered to be dollar amount instead of percentage.
Once you have completed this step, proceed to creating an account for Discount Expenses. The direct discounts that you provide to customers are considered to be business expenses. Due to this reason Discounts accounts are not to be applied as these discounts being offered to you are from vendors.
At this point you might see a warning pop up box cautioning you that the account for Discount Expenses does not exist but you simply need to acknowledge the OK button and it will be included. Next, go to and click on the icon for Expenses which is on the window of Add New Account. Then OK needs to be clicked and you have to return to the screen for New Discount where you again click OK to enable your discount to be saved instantly.
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.
The amount of discount you want to offer is what you have to mention next. To do this, go to the Amount or percentage symbol box and click on it. An important fact to remember is that with QuickBooks, failure to add the percentage sign once you write the amount will be considered to be dollar amount instead of percentage.
Once you have completed this step, proceed to creating an account for Discount Expenses. The direct discounts that you provide to customers are considered to be business expenses. Due to this reason Discounts accounts are not to be applied as these discounts being offered to you are from vendors.
At this point you might see a warning pop up box cautioning you that the account for Discount Expenses does not exist but you simply need to acknowledge the OK button and it will be included. Next, go to and click on the icon for Expenses which is on the window of Add New Account. Then OK needs to be clicked and you have to return to the screen for New Discount where you again click OK to enable your discount to be saved instantly.
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:
If you want to save a lot of money with QuickBooks software discounts, click www.quickbooksmegastore.com. The Quickbooks Megastore is your one stop shop for accounting software experts and you can find us on the Web today at http://www.quickbooksmegastore.com.
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