Customer Settlement Discount

If you offer your customers a settlement discount, the following needs to be set up within Smart-IT Accounting Software.

1.        Go to Ledger > Account Set up. Create a new Main Account - Discount to Debtors, the account type will be income sales and tax will        be Output Tax Standard Rate.  See sample below.

2.        Go to Ledger > Account Options > General Ledger Defaults.  At the Customer Discount drop down select the account you created in step one.

3. Once you receive payment from a customer whom qualifies for the settlement discount, payment can be entered in two ways on the system.

3.1        Customer > Customer Journal (used when a customer pays via EFT etc.) Select new payment received, enter the discount amount given.

3.2        Customer > Receive payment  (used for any form of payment) at the bottom of the form enter the discount amount given.