Invoice Discounts can be configured to calculate a total invoice discount within a specified time, based on the percentage of total Sales Amount or based on the amount of units sold for all item lines.
Creating a Service Item
Open the App Launcher. Search for Items.
Create a new service Item for Invoice Discounts.
Assign the Service Item to Company Setup
Open the App Launcher. Search for Company Setup.
Enter the newly created service item to the Invoice Discount field in the Company Setup.
Setup Invoice Discounts
Open the App Launcher. Search for Sales Discounts.
Click on New.
Configure the following:
Account - Define the account that will receive the Invoice Discount.
Alternate Shipping - Define the alternate shipping that will receive the Invoice Discount.
Item, Unit of Measure, Item Category, Item Category UOM must be blank.
Discount By - Select Percentage or Unit Amount.
Percentage gives a discount % based on the total Line Amount of all Sales Lines on the order with Item Type = Inventory.
Unit Amount gives a flat rate discount amount based on the Quantity ordered on all Sales Lines with Item Type = Inventory.
Discount - Based on the selection in the Discount By field, enter the percentage or unit amount discount.
Starting Date - Enter the date from which the Line Discount is valid.
Ending Date - Enter the date until which the Line Discount is valid.
Minimum Quantity - Enter the minimum quantity of all items that must be purchased on the sales order to receive the discount.
Invoice Discount - This field must be Checked to tell GoldFinch that this line is for invoice discount calculation.
Processing Invoice Discounts
After saving the sales order, click Calculate Invoice Discount.
GoldFinch will automatically use the Invoice Discount service item defined on the Company Setup to create a new sales line.
On the sales line, the invoice discount amount is calculated automatically based on the invoice discount setup.
If a Sales Line Discount and Sales Invoice Discount are used in one Sales order, GoldFinch calculates the Invoice Discount based on the Line Amount of all Sales Lines where the Item Type = Inventory. The Line Amount is the amount after the line discount is considered.
If there are updates to the Sales order after calculating Invoice Discount, click Calculate Invoice Discount to update the invoice discount amount. Additionally, if you partially invoice the sales order, click Calculate Invoice Discount to update the invoice discount amount on the sales invoice.