Invoice Discount in Payment Entry
Question:
Sometimes a customer doesn't pay the invoice totally and he wants us to give him a discount. For example, the total invoice is 54 euro but he pays 50 euro and takes 4 euro as discount. How to register this case in the system in order the invoice is shown as paid but at the same time we know that there was a discount on the invoice.
Answer:
In the Payment Entry, enter values as follows.
Paid Amount as 50 EUR
Against the Invoice, allocate 54 EUR
This will leave to Difference Amount of 4 EUR
In the Deductions and Additional Charges table, select Income account or Discount Expense Account (as per your preference) to book 4 EUR there