The payment discount feature is used to give customers an incentive to pay their bills within a specified number of days.

 

•System option 56 must be enabled, to use the payment discount feature.

 

•When a payment discount is defined, entrée will determine the total dollar amount that can be deducted using the formula

Invoice Total * Payment Discount / 100

 

•The payment discount is not automatically deducted from the invoice. entrée will print a message at the bottom of their invoice conveying the total dollar amount that may be deducted.

 

•When a customer takes the payment discount, it must be applied as a separate receipt, using the Credit/Discount feature of the cash receipts system.

 

System Option 165 - Automatically apply payment discount in Cash Receipts.

When applying a payment to an invoice in Cash Receipts System Option165 will enable a process which will check to see if the customer is configured to receive a payment discount.

If the customer is eligible for the discount then it will check to see if the invoice itself is eligible to receive a discount.

In order to be considered eligible the payment being applied must fully pay the *discounted* balance of the invoice and must be within the specified terms.

If the invoice meets these terms then the discount will be applied automatically when the payment entry is saved.