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I have just switched over from MYOB and this is extremely disappointing as MYOB has had this function for at least the 16 years I was using it.

Xero, many have asked for this and these days offering incentives for early payment is paramount.

As this has been requested for many years, I would think you should be making this a priority.

Updating that our Prompt Payment Discounts at Paidnice are getting good feedback from accountants and bookkeepers using it. I wonder if higher invoice monthly minimums specifically for PPDs would make our pricing more appealing to those here?

Yes please this would be great

The ability for Xero to calculate and apply an early payment discount when paying bills. At the moment I can doing manual credits to bills when processing payment, it is a pain.

@Victor ter Hark

Although your workaround seems good, it is not possible when handling 1000+ clients.

But it would be worth waiting if this was the only basic function missing. Xero has loss touch with their accounting clients and seems more focused on roadshows (lights and wows) and implement much less important (and much less voted) features into the system.

I was a huge Xero fan at the start, but as Xero grew, unfortunately their heads grew as well. I moved nearly all my client base off Xero, and is only left with a few that spend thousands in training and implementation and has to stay for now.

One thing is sure, I do not recommend Xero to any of my clients or my fellow peers at our institution.

Although I agree this should be implemented, I am now sadly receiving all your complaints in my inbox and I do not know how to unsubscribe. Thats the real problem haha. (Found the unsubscribe in the mail!)

Jokes aside. If you need this functionality, think about how rounding errors or bank fees are handled in Xero. This is nothing more than a field that books debit or credit amounts to an account.

Create your own account (Payment Discounts) and manually create the transaction by using the create view. This way you don't have a one-second button, it's still quick and easy and does essentially the same thing.

Thinking of converting the team back to MYOB. Don’t seem to get any reply/ support from Xero

Some suggestions (critical in nature) have been ignored since 2014!

@Julian Wong. No none of the above, just ignored

support and would like to see it been implemented ASAP.
where can we see the status of this suggestion? Is it rejected? accepted? In progress? etc

Has this actually been developed? We apply prompt payment discounts to all our invoicing.

Hi Denym, Your tool looks nice, but at $39USD per month, it doubles the cost of Xero.

"Denym Bird commented
· May 01, 2023 12:44 · Report
Taking this thread as a bit of inspiration, I went ahead and built this feature in our late fee Xero app, Paidnice... Open to feedback from the community here... https://www.paidnice.com/prompt-payment-discounts"

Taking this thread as a bit of inspiration, I went ahead and built this feature in our late fee Xero app, Paidnice... Open to feedback from the community here... https://www.paidnice.com/prompt-payment-discounts

Yes need this so bad

I hope we can make sure we continue to tell the team at xero that this is critical for business and they should get it resolved. I also hope that we can rise to maintain our civil and persistent pressure.

Xero has much value, but needs to hear this need is important. We shoud be getting a management response TOO!

Larissa - Can I just say you are going to Regret going from MYOB to Xero "Building Beautiful" let me tell you there is not even Building BASIC with Xero - no Support nothing every get done - for sakes they don't even have 30, 60, 90 days on Customer statements!!! Goood Luck getting anything done

Please implement this function ASAP - I have just switched from MYOB to Xero and am very disappointed that this is not an existing function.

Very basic function not available in Xero. Disappointing given how long this has been requested and how simple to implement.

When reconciling bank feeds can you put an option with the adjustment tab for early payment discount? You can than select all invoices to be reconciled and if amount calculates to the statement you can than select discount and apply the discount amount?

A basic function for any other package we have used in our business. No other has been without it. We moved to Xero because it syncs with our new POS & operating system. Extremely surprised & totally disappointed that auto calculation of settlement discount & early payment discount is not standard for both suppliers & customers. Surely, it's not that difficult to implement.