How to capture a settlement discount which is after vat and cant be captured in the discount field as this is before vat ?

warren6 · ‎February 28, 2020

Ryan_M · ‎February 28, 2020

Let's set up your Discount value field on your invoice placed after VAT so you'll get the correct total amount.

Here's how:

Go to the + New menu.
Select Invoice.
Fill up the form as necessary.
Enter the discount amount on the Discount value field.
Press the Switch (down and up arrow) button, so your VAT gets deducted from the subtotal before the discount.
Hit Save and close.

Take a look at this article to learn more about how different accounting methods affect sales tax: How Cash and Accrual accounting affect sales tax.

Have other questions in mind? Post them in the comments below, and I'll get back to you.

View solution in original post

Morne VB · ‎October 01, 2021

Hi

Where do I locate the switch (up and down) arrow button?

MirriamM · ‎October 01, 2021

It's good to see you in this thread, @Morne VB.

The switch button that my colleague @Ryan_M is referring, is found in the VAT column on the invoice page. For your visual reference, see the below screenshot.

To learn more about the discount feature in QuickBooks Online (QBO), see this article: Add a discount to an invoice or sales receipt in QuickBooks Online.

For your future tasks, here's a resource that you can use for a guide: Record invoice payments in QuickBooks Online. It contains information on how you can receive customer payments.

Reach out to me in the comment section below if you have any other issues or concerns when using QuickBooks. I'm always here to help. Take care.