Close Cash Discount

Case summary The person responsible in the company wants to close cash discounts and automatically post it.  This is done as follows: 1. Settings for customer in Subjects register 2. Close Rounding Differences and Cash Discounts Automatically 3. Automatic posting

1. Settings for customer in Subjects register

Customer EMENDO, sole proprietor is entitled to a 5 % cash discount for payments made in 3 days after the invoice has been issued.

HINT The account for posting of cash discount can be entered for customer/supplier in Subjects register. If it is not entered on the customer/supplier, the account entered on form for Automatic posting of rounding differences and cash discount will be used for posting of cash discounts automatically.

Below you can observe the posted documents:

Receivable was closed with payment. The cash discount note is still outstanding. This is done by closing cash discount note.

2. Close Rounding Differences and Cash Discounts Automatically

After having closed the invoice by the set deadline, it is displayed in the Close Rounding Differences and Cash Discounts Automatically window. Here the customer is entitled to a cash discount.

Selecting criteria and clicking Close, all open documents matching the criteria will be displayed:

3. Automatic posting

Select appropriately and click Post. A journal entry is created (see Posting successful! Journal entry XXX). Clicking OK to display it.

Thus you close the linked document.

Document Due Date is set for due date of journal entry.

Below is shown the general ledger overview for the account 1200 and customer EMENDO, sole proprietor: