Learn how to add a fixed amount discount applied to the total amount of the invoice.
To add a fixed amount discount on an invoice total:
- When creating an invoice click on the
+ Discount on totalnear the invoice total.
- In the
Select accountdropdown, choose the account you'd like this discount to be booked against. For example, choose the
408 Discountaccount if you'd like the discount to be shown against this account on the Profit and Loss statement.
- Enter the discount amount
- If the discount is subject to VAT, click the
Optionslink to open additional options, then choose the tax rate that should be applied to the discount. You can also choose the
Cost centerthat you'd like the discount to be booked against.
- Save the invoice.
Journal entries generated by the discount
A discount of 100 subject to 15% VAT (i.e. 115 VAT inclusive) will generate the following journal entries:
Discounts on quotes
You can also add fixed-amount discounts on quotes. When you convert a quote to an invoice, the discount will be copied over.