The addition of QuickBooks software discounts to any invoice is practically the same in both the Pro and Premier versions. This discount is normally offered to a customer. However it is important to note that it is not offered by a vendor to any buyer for early bill payment. It needs to be created and then applied directly to the invoice. The following is a step by step guide on how you can best apply the discounts to an invoice.
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.
Next, inside the "Description" box, write down the description of the discount. On a printed customer's invoice, the description should be visible. Describing the discount can be done in one/two words or by using a short phrase. The terms that are used should be easily comprehensible. However, ensure that long descriptions without meaning are extremely avoided.
The creation of a "Discount Expenses" account is the next essential step. All the reductions that customers get directly from you are handled as business expenses. "Discounts" accounts are not supposed to be applied for this reason. This is because the ones that extend you these discounts to you are vendors.
The next important step is the setting up of "Discount Expenses" account. Any discounted deals offered to customers are always considered as expenses to your organization. You should never use the "Discounts" account. The reason is because it is used for the discounts that are offered to you by sellers.
When you notice the warning box popping up to warn you that "Discount Expenses" account does not exist, you should click on the "OK" icon to add it. Then, click the "Expenses" button which is found on the "add New Account" window. After doing this, click "OK" and then return back to the "New Discount" screen and then click "OK" on it and the discount will be saved automatically.
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.
Next, inside the "Description" box, write down the description of the discount. On a printed customer's invoice, the description should be visible. Describing the discount can be done in one/two words or by using a short phrase. The terms that are used should be easily comprehensible. However, ensure that long descriptions without meaning are extremely avoided.
The creation of a "Discount Expenses" account is the next essential step. All the reductions that customers get directly from you are handled as business expenses. "Discounts" accounts are not supposed to be applied for this reason. This is because the ones that extend you these discounts to you are vendors.
The next important step is the setting up of "Discount Expenses" account. Any discounted deals offered to customers are always considered as expenses to your organization. You should never use the "Discounts" account. The reason is because it is used for the discounts that are offered to you by sellers.
When you notice the warning box popping up to warn you that "Discount Expenses" account does not exist, you should click on the "OK" icon to add it. Then, click the "Expenses" button which is found on the "add New Account" window. After doing this, click "OK" and then return back to the "New Discount" screen and then click "OK" on it and the discount will be saved automatically.
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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