Discount Quickbooks

In layman’s term a Discount is an allowance or concession in price. For business owners’ point of view, discounts are vital decisions to induce customers and vendors to place an order and make payments on time. A certain business owner would place a discounted price on his commodity with a note saying that the payment for such a discounted product need to be made on a specified date.

Most customers would fall for such a promotion in order to avail of the discount. A great idea for both owner and consumer. Discount is normally shown in the quotation and invoice. It is deductible from the total price and the buyer is requested to pay only to the net amount. Normally, owners put such a discount in percentage form.

To do this, you may click on Items to go to New on your Menu tab. Then click on Discounts. Here is where you will need to put a description or you may choose an amount or a percentage. If you are choosing a percentage, don’t forget to include the percentage sign, so as not to confuse the system to consider it as a dollar amount. Indicate as well that it is an Expense Account, then click pay.

This is only discounting a particular item on your list. In order to discount the whole invoice, you have to add a subtotal first and then add your discount, this will give the entire invoice a much higher discounted amount because the subtotal is the one being discounted.