Payment terms discount

IBS
IBS Member Posts: 29
edited 2008-08-19 in NAV/Navision Classic Client
Hello

Our customer has payment terms discount NET30%2 meaning if you pay within 30 days you get 2 percent off.

Sometimes the customer comes and picks up the order and pays at the pickup area. The person needs to tell them how much to pay. How can the worker at the pickup area tell them what the total amount is?

If they hit F9, it doesn't show the payment discount.

I thought about making a mod that would turn the payment discount into an invoice discount, but just wanted to make sure that I haven't missed anything.

Comments

  • idiot
    idiot Member Posts: 651
    Payment discounts & Invoice discounts are theoretically 2 different things which some management use in analysis & commission. Check if your client does such analysis & whether the auditors are ok with it.
    NAV - Norton Anti Virus

    ERP Consultant (not just Navision) & Navision challenger
  • ssingla
    ssingla Member Posts: 2,973
    Accounting Treatment of Invoice and Payment Discount is different. Invoice discount reduces the sales amount (even though it is posted in a different account as Net Sales = Sales - Line Discount - Invoice Discount) whereas payment discount is finance expense.

    I as a accountant will not recommend treatment of payment discount as invoice discount.
    CA Sandeep Singla
    http://ssdynamics.co.in
  • Savatage
    Savatage Member Posts: 7,142
    when they pick up the order do they get a copy of the invoice?

    you could show the calculation on the invoice in the footer or something.
    example.
    PaymentTerms.GET("Payment Terms Code");
    If PaymentTerms."Discount %" <> 0 then
    "Disc Message" := 'If you pay before'+"Due Date"+'you can deduct $'+"Discount Calculation"
    else "Disc Message" := '';

    I made up discount calculation - you have to calc that field
    Harry Ruiz
    http://www.BiloBeauty.com
    http://www.autismspeaks.org

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