Earned Discount Transaction Type and How to set it

By | January 16, 2017

An earned discount is a discount you give to a customer who pays on or before the discount date or within the discount grace period. For example, a customer may earn a 2% discount off the original invoice if payment is received within 10 days. The earned discount period is determined by the invoice date, apply date of the receipt, and any discount grace days.

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In Sage 300 Earned discount transaction is a type of AR Receipt Batch. Earned discount is getting reflect in A/R Aged Trial Balance report. To set Earned discount follow below steps:-

Go to AR Invoice batch -> Create Invoice with type summary -> Add Amount for invoice.

Create AR Invoice

You can see in above screen shot new batch number 59 is created with invoice number IN00000000000000000034

After generating invoice user need to post this invoice entry from AR Invoice batch list to reflect in AR Receipt entry.

AR Invoice Batchlist

After posting batch the status of batch will get changes to posted from Open.

To add discount GO to AR receipt entry form -> Generate new batch ->Select transaction Type as a receipt -> Select customer number -> untick check box naming as Select Mode -> Select Invoice number in detail line document number -> Applied Discount taken value -> save this Receipt entry form.

AR Receipt Entry

You can see here we have added 250.00 as a Discount amount this discount amount will get reflect as an Earned discount in Aging report against that invoice.

Once user saved this receipt entry system will generate Document number and Check/Receipt No. see below screen shot.

AR Receipt Entry

Value of earned discount will get reflect in Aged trial balance report only after posting Receipt Entry.

Post this created Receipt entry through Receipt Batch List form.

AR Receipt Batchlist

To print Aged Trial balance report you need to follow below steps.

Go to AR Module -> AR Transaction Report -> Aged Trial Balance Report.

Open Aged Trial Balance report -> Select report type as “Aged Trial Balance By Document Date” or “Aged Trial balance By Due date” -> Select Age As Of date and Cut-off date -> Select all transaction type which are display in Select Transaction Type Section -> Select Applied Details and Fully Paid Transaction options -> Select from date -> Click on Print.

AR Aged Trial Balance Report

Aged trial balance report will get generated and discount which we applied in Receipt Entry against Invoice IN00000000000000000034 will be display as Earned discount with payment entry PY00000000000000000090.

AR Aging Report

This is how Earned discount is used in AR receipt entry against the AR Invoice.

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