How Do I Enter Discounts Taken On A/R's

If you are factoring your Accounts Receivable or if you give or a customer takes a discount on an invoice you will need to make a split entry to show the discount. Here's an example:

If you're entering a payment received on an A/R and a discount at the same time you will need to make a split entry.

Click on the Tool Bar at the bottom of the main screen.

  1. Enter the ProNumber (REQUIRED)

  2. If there is a Truck Number in the box delete it, the program will put in N/A.

  3. Enter the date of the payment.

  4. Enter the amount of the payment.

  5. Enter N/A in the Paid By

  6. Enter the account you deposited the money into in the Payment Account.

  7. Enter SPLIT in the Charge To Account.

  8. Save the record and the Split Transaction Box will appear. Click this to make the Split Entries.




The split entry represents the total balance due on the receivable - this will close the receivable. The second entry, which is an EXPENSE will be assigned to whatever account you use for discounts (or for whatever else this expense is for), and you MUST MANUALLY ASSIGN A MINUS SIGN (-) to this entry.

Check the BALANCE box to be sure the transaction balances and then click OK to exit the form.

That completes the transaction.