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Post a sales or purchase discount

Created on  | Last modified on 

Summary

This article covers how to record discount in Sage Accounts.

Description

If you give your customer a discount, you can record this at the time of entering the customer receipt. If you receive discounts from your suppliers you can also record this when posting supplier payments.

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Resolution

Post a Sales Discount (SD)
    1. Click Customers, then Customer receipt.
    2. Select the relevant bank account and customer.
    3. Enter the date.
    4. Against the relevant invoice, in the discount column, enter the discount amount.
    5. Sage 50 Accounts v22 and above - if the discount includes VAT, select the Discount inc. VAT? check box.
    6. Press the TAB key.
      • On the VAT Cash Accounting scheme, it is not possible to record a discount and part pay the invoice - the following message appears: 'Cannot have a part payment with discount'. Read more >
    7. Check the Analysis Total is the amount received.
    8. Click Save.

The Sales Receipt (SR) transaction and the Sales Discount (SD) transaction are posted to the customer's account and allocated to the relevant sales invoice (SI) transaction.

Post a Purchase Discount (PD)
    1. Click Suppliers, then Supplier payment.
    2. Select the relevant bank account and supplier.
    3. Enter the date.
    4. Against the relevant invoice, in the discount column, enter the discount amount.
    5. Sage 50 Accounts v22 and above - if the discount includes VAT, select the Discount inc. VAT? check box.
    6. Press TAB.
      • The remaining outstanding value of the invoice appears in the Payment column. For example, if the PI is £100 and you enter £10 in the Discount column when you press TAb the Payment column automatically updates to £90.
    7. If required, amend the value in the Payment column.
      • On VAT Cash Accounting it is not possible to record a discount and part pay the invoice - the following message appears: 'Cannot have a part payment with discount'.
      • When you click OK the Payment value remains and the discount is reset to zero.

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    8. Check the Analysis Total is the amount being paid.
    9. Click Save.

The Purchase Payment (PP) transaction and the Purchase Discount (PD) transaction are posted to the supplier's account and allocated to the relevant Purchase Invoice (PI).


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