In both the Premier and Pro versions, including QuickBooks software discounts into an invoice is pretty much similar. A customer is the only one that is usually offered this discount. However, a buyer cannot be able to receive this discount from a seller if he pays his bill earlier. It should be applied into the invoice directly after it is made. Discussed here are the simple steps that should be followed when including discounts to an invoice and how to go about it.
The first important step's to open QuickBooks. After doing so, you will be required to open your business in the application and then click on "Lists", "Type" and 'Discount'. You will notice that the "Add New Discount" window is going to open up instantly.
Naming the discount is the next essential step in the procedure. You should name it appropriately if you are planning to offer a customer more than one reduction. For example, you may name them as "Promotional Discount" and as "senior discount" respectively. Always ensure that you name them in a simple manner that can be easily comprehended.
You will then be required to provide the discount's description inside the "Description" box. The description will be visible on the customer's invoice when it is printed out. Make use of names that can be understood easily. Long and meaningless descriptions are not necessary and should always be avoided. The next step is to fill in the amount of the discount to be given. You will be required to click on the "Amount or %" box. An important fact is that QuickBooks makes the assumption that the amount entered is a dollar amount; if you forget to add the % sign at the end of the discount amount. This is an extremely important point to note.
After this, you'll be required to enter the discount amount. Then, click on the "Amount or %" box. Of importance to note is the fact that QuickBooks will automatically assume that the amount you key in is a dollar amount if you don't include the "%" sign.
Next, you will be needed to create an account of "Discount Expenses". Expenses to your business also include all reductions that customers receive directly from you. The "Discounts" account should never be used for this purpose. This is due to the fact that vendors are the ones that offer you these discounts.
In case you are warned inside the warning box that the "Discount Expenses" account is non-existent, click OK in order for it to be included. Locate the "Add New Account" window and click on the Expenses icon. Having done this, click OK on it go back to the "New discount" screen and click OK. There will be an automatic saving of the discount.
Finally, at the tail end of the invoice, you will be required to enter the named discount into the "Item Code" column. Once this has been done, QuickBooks will automatically calculate the percentage figure or the dollar amount. It will then subtract the amount from the invoice total prior to the addition of tax. After the addition of the tax, you should click on the "Save and Close" icon or alternatively on the "Save and New" icon, and the invoice is going to be saved. The application of QuickBooks software discounts is extremely beneficial because it provides a simpler method of calculating discounts.
The first important step's to open QuickBooks. After doing so, you will be required to open your business in the application and then click on "Lists", "Type" and 'Discount'. You will notice that the "Add New Discount" window is going to open up instantly.
Naming the discount is the next essential step in the procedure. You should name it appropriately if you are planning to offer a customer more than one reduction. For example, you may name them as "Promotional Discount" and as "senior discount" respectively. Always ensure that you name them in a simple manner that can be easily comprehended.
You will then be required to provide the discount's description inside the "Description" box. The description will be visible on the customer's invoice when it is printed out. Make use of names that can be understood easily. Long and meaningless descriptions are not necessary and should always be avoided. The next step is to fill in the amount of the discount to be given. You will be required to click on the "Amount or %" box. An important fact is that QuickBooks makes the assumption that the amount entered is a dollar amount; if you forget to add the % sign at the end of the discount amount. This is an extremely important point to note.
After this, you'll be required to enter the discount amount. Then, click on the "Amount or %" box. Of importance to note is the fact that QuickBooks will automatically assume that the amount you key in is a dollar amount if you don't include the "%" sign.
Next, you will be needed to create an account of "Discount Expenses". Expenses to your business also include all reductions that customers receive directly from you. The "Discounts" account should never be used for this purpose. This is due to the fact that vendors are the ones that offer you these discounts.
In case you are warned inside the warning box that the "Discount Expenses" account is non-existent, click OK in order for it to be included. Locate the "Add New Account" window and click on the Expenses icon. Having done this, click OK on it go back to the "New discount" screen and click OK. There will be an automatic saving of the discount.
Finally, at the tail end of the invoice, you will be required to enter the named discount into the "Item Code" column. Once this has been done, QuickBooks will automatically calculate the percentage figure or the dollar amount. It will then subtract the amount from the invoice total prior to the addition of tax. After the addition of the tax, you should click on the "Save and Close" icon or alternatively on the "Save and New" icon, and the invoice is going to be saved. The application of QuickBooks software discounts is extremely beneficial because it provides a simpler method of calculating discounts.
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