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 initial step is to open up QuickBooks. You will then be required to open up your business application by clicking on the ‘Lists’, ‘Type’ and ‘Discount’ icons. Having done this, you will notice the “Add New Account Discount” window popping up open.
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.
Eventually, the “Item Code should” column should have the discount in it as an inclusion at the end of the tail end of the invoice. The dollar amount plus the percent figure will be calculated by QuickBooks in an automatic manner. It will also subtract the dollar amount or percent figure from the invoice’s sum total.
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.
If you are looking for the latest QuickBooks software discounts, visit the web pages at www.quickbooksmegastore.com today. You can see details online at http://www.quickbooksmegastore.com now.