+2
We have customers that will calculate the Payment term discount, e.g. 10% 10 Days Net 30 on the gross invoice amount. I.e they calculate on the total invoice before discounts. How would you do this in IFS?
e.g. Total multi line invoice:
| Units | Price | Line Total | |||
| Line 1 | Sku1 | 24 | $ 1.25 | $ 30.00 | |
| Line 2 | Sku2 | 30 | 1.95 | 58.50 | |
| Invoice Subtotal | $ 88.50 | ||||
| Trade Discount | (8.50) | ||||
| Invoice Total | $ 80.00 | ||||
| Payment Terms | 10% 10 Days Net 30 | (8.85) | |||
| If Paid within 10 days | $ 71.15 | ||||
+14
The calculation per the pay terms is ‘net amount’ and only allowed at 100%. I do not know how to accommodate a gross amount before discounts. Will rebates accomplish the same outcome?
Best- Christy
+2
Rebates may not accomplish the same outcome as we would have to manage when the payment is received. Example: was the payment received within 10 days?
+14
My thought is to configure rebates on the gross amount. The invoice is still at gross amount (pre line discount). The pay term will discount 10% on the payment within 10 days. The rebate (equal to order line discounts) could offset against the open AR items. It will look a little different to the customer as well as changing their current process flow but it will allow the pay discount on gross.
+2
Thank you. That will not work for our customers.
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