Applying Payment discount to Sales Invoices

ADARTIHS

Hi,

I feel embarressed making this posting but I have tried everything. #-o

How do you allocate a payment discount to a Sales Invoice when you have received the cash?

Please put me out of missery ](*,)

Thanks

ADARTIHS

ara3n

You cannot. The Payment discount is done at the time after you invoice the Order.
You have to make a modification.
What I had to do for a client is that when they selected Payment Type (CASH) on the SalesHeader, I would look for Payment Discount and changed the Payment Discount to Invoice Discount.

ADARTIHS

Hi

I have posted the Sales invoice with a Payment Discount, this has posted nothing to the Payment Discount G/L account setup in the Customer Posting Group or the General Posting groups.

When is the G/L side of the payment discount posted?

Cheers again

ADARTIHS

ara3n

the user only gets the Payment Discount if they actually pay on time. That's what the payment discount is. You only get the discount if you pay on time.

So when you apply the payment to the invoice, will you see the payment discount hit your payment discount account.

ADARTIHS

Hi Rashed,

Thanks for you post!

I have posted the Sales invoice with a due date for the 301009 and the discount has reduced the VAT as i expected. The invoice is outstanding on the sales ledger with the full NET amount plus the reduced vat amount.

I try to process a receipt against the sales invoice I allocate to the invoice, but the Pmt Disc. Given (LCY) is zero! even with a posting date of 030909. How do I get a value in this field.

Thanks for your help

ADARTIHS

ssingla

The discounting system will work as follow:

Discount on Invoice : The details will be posted in Sales Invoice Header/Line and net amount will be posted in Cust. Ledger Entry.
Discount on Receipt on Payment : The discount entry will be posted on receipt and discount will reflect in Pmt Disc. Given (LCY).

One option will not have both the effect.

ADARTIHS

Thank you for your reply Ssingla,

But I am afraid this still does not answer my question.

I have raised an Invoice for 100.00 (no Tax or Vat) with a 10% PAYMENT Discount. This is outstanding on the Customer Ledger as 100.00 and the Remaining Pmt. Disc. Possible = 10.00

I raise a cash receipt journal for that customer enter zero in the amount field and apply entries. I then Set applies-to ID against the invoice. The amount the system is trying to pay is 100.00, I need to only apply 90.00. The Pmt Disc. Amount. is zero how do I get a value in here?

My current setup is as follows:

Pmt. Disc Excl Vat is TRUE this is the only setup I have changed.

Please help this seems so simple but is driving me mad ](*,)

Thanks again

ADARTIHS

I cannot believe all this becuase I forgot to add Payment as the document type.

What a :oops:

Thanks for your help