Configure Sales Invoice Discounts

Overview

Invoice Discounts in GoldFinch are configured to apply a discount to the total invoice amount based on either a percentage of the total sales amount or the quantity of units sold. This discount is applied across all item lines within a specified time frame, offering flexibility in managing bulk or total order discounts.

Creating a Service Item for Invoice Discounts

Create a Service Item:

• Open the App Launcher and search for Items.

• Create a new Service Item to be used for invoice discounts.

Assign the Service Item in Company Setup:

• Open the App Launcher and search for Company Setup.

• In the Invoice Discount field, enter the newly created service item.

• Click Save to confirm the setup.

Setting Up Invoice Discounts

Create a New Sales Discount:

• Open the App Launcher and search for Sales Discounts.

• Click on New to create a new Invoice Discount.

• Configure the Invoice Discount:

  • Account: Specify the customer account that will receive the invoice discount.

  • Alternate Shipping: Specify alternate shipping information if necessary for the invoice discount.

  • Leave Item, Unit of Measure, Item Category, and Item Category UOM blank, as these do not apply to invoice discounts.

• Set Discount Parameters:

  • Discount By: Choose either Percentage or Unit Amount.

    • Percentage: Applies a discount based on the total line amount of all sales lines with Item Type = Inventory.

    • Unit Amount: Applies a flat-rate discount based on the quantity ordered across all sales lines with Item Type = Inventory.

  • Discount: Enter the percentage or unit amount based on the selection in the Discount By field.

• Define the Discount Validity:

  • Starting Date: Set the start date from which the invoice discount is valid.

  • Ending Date: Set the end date when the invoice discount will no longer apply.

• Minimum Quantity:

  • Specify the Minimum Quantity of all items that must be purchased on the sales order to qualify for the invoice discount.

• Invoice Discount Field:

  • Check the Invoice Discount field to indicate that this line is for invoice discount calculation.

Processing Invoice Discounts

Apply and Calculate Invoice Discount:

• After saving the sales order, click on Calculate Invoice Discount.

• GoldFinch will automatically use the Invoice Discount service item (defined in the Company Setup) to create a new sales line.

• The invoice discount amount is calculated based on the discount setup, either as a percentage of the total line amount or a flat unit amount.

• Handling Sales Line and Invoice Discounts:

  • If both Sales Line Discounts and Invoice Discounts are applied on the same sales order, GoldFinch will calculate the Invoice Discount based on the line amount after the line discount is applied.

• Updating Invoice Discounts:

  • If there are updates to the sales order after the invoice discount has been calculated, click Calculate Invoice Discount again to update the discount amount.

  • In case of partial invoicing, click Calculate Invoice Discount again to update the invoice discount on the sales invoice.

Notes:

• Sales Line Discount and Invoice Discount can coexist in the same sales order. The Invoice Discount is calculated based on the sales lines after considering the line discounts.

• Ensure that invoice discounts are recalculated if there are changes to the sales order or if the order is partially invoiced.

By following these steps, GoldFinch helps you efficiently manage invoice discounts, ensuring that bulk or total order discounts are applied accurately.