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About the Discount and Credits window

Use this window to apply a discount or credits to the bill that you highlighted.

Bill information (at the top window)

This area reflects entries that you've made elsewhere in QuickBooks. You cannot select and change the Bill information. QuickBooks updates the information shown here based on the amounts that you enter in the fields on the Discount and the Credits pages.

Ref. No. The optional reference number that was entered when you entered the original bill.

Date The date of the bill.

Original Amt. The total amount of the original bill, not including the reduced amount that would result from any discount or credits that you apply.

Amount Due The total amount due for the bill before applying any current discounts and credits. This amount reflects any previous payments on the bill. This amount changes when you pay the bill and when the discount, credits, and amount paid are subtracted from the amount due.

Discount Used The total amount of the discount currently applied to the payment.

Credits Used The total of all credits currently applied to the payment.

Amt. To Pay The total amount to pay. This amount is reduced as you apply any discount or credits.

What if all the amounts I see are zeros?

You must select a bill to see its discount and credit information. If the amounts remain zero after selecting a bill, there are no discount or credits for that bill.

If you think there should be a discount:

  • View the information for the vendor.

    If you did not set up terms for that vendor, a discount can't be automatically calculated. You can, however, enter the amount manually.

  • Verify the discount rates.

    The available discount is based on a date; if your payment does not fall within the dates of the discount, the discount does not apply.

Check the information for the vendor. It could be that you did not set up terms for that vendor. Without terms, a discount can't be automatically calculated. However, you can manually enter any amount you want. Also, the available discount is based on a date, so your payment may be out of date, thus negating the discount.

On the Discount tab

QuickBooks has calculated a suggested discount (and the date by which you must use it) based on the payment terms that you have with the vendor. You can accept the suggested discount or you can enter a different amount.

Discount Account (If class tracking is turned on)

Discount Account topic

Discount Class

An entry in this field assigns the discount to a class you have previously defined for tracking purposes.

Classes give you another way to categorize your financial transactions. For example, if you had a restaurant with three locations, you might create an Uptown, a Midtown, and a Downtown class for tracking income and expenses by location. When you create reports, you can have QuickBooks group and subtotal transactions by their class.

Class tracking must be turned on for this field to appear.

To turn on class tracking

  1. Open the accounting preferences.

    Opening accounting preferences
  2. Click the Company Preferences tab.

  3. Select the Use class tracking checkbox.

On the Credits tab

Credits are listed in ascending order by date. If a credit exactly matches the bill, that credit will be selected.

Amt. To Use

You can use the entire amount of the credit or you can enter a specific amount of the credit that you want to apply to the bill. In this way, you can use various amounts of a single credit and apply them to different bills from the same vendor.

See also

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