Discounts

Percentage

This is the percentage discount to deduct from the invoice amount if it is paid within a certain number of days of the invoice posting date (specified in Discount Days). Discounts are divided among all line items.

Flat Amount

This is the flat amount to deduct from the invoice amount if it is paid within a certain number of days of the invoice posting date (specified in Discount Days).

Discount Days

Invoice must be paid within this number of days of the invoice posting date to qualify for a discount.

Day of Month

If this box is checked the Discount Days field is a day of the month, not the number of days.

Invoice Discount

The discount amount is deducted from the payment if paid prior to the Last Day field. When writing checks the invoices with missed discounts can be viewed separately. The check will be written for the discounted amount and the owner ledger will be debited the full invoice amount.

If you choose to pay only part of the invoice the discount will be lost.

NOTE: If you enter a multiple line invoice with a discount, and one of those line items cannot be paid, the discount will not be taken on the line items that are paid.

If you choose the unit as the Bill To: In the Management Fee profile you have the option of giving the discount to the owner or the management group. If you choose to give the discount to the owner, the full check amount will be posted to his ledger and then the discount amount will be credited back to him. If you choose to give the Management Group the discount, the management group ledger will be credited with the discount amount.

If you choose the owner as the Bill To: It doesn’t matter how the Management Fee profile is set up, the full check amount will be posted to the owner ledger and then the discount amount will be credited back to him.