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Invoice - Prompt Payment / Settlement Discount

To apply a prompt payment discount/settlement discount to an Accounts Receivable invoice from the match items screen in the Bank Reconciliation.

Purpose: So users can offer early discounts to vendors/suppliers without needing to do manual credit notes or editing the invoices.

325 votes

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AdminXero Team (Admin, Xero) shared this idea  ·   ·  Report…  ·  Admin →
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  • Brian Kenny commented  ·   ·  Report

    It really is a very basic accounts package unction. Xero is the first package that I have come across in 30 years that has not got this function. The discount allowed automatically adjusts the total amount for GST e.g. Invoice is $110 including GST, the customer only pays $100, Xero would automatically adjust the GST payable amount to $9.09 - that is then the amount the supplier (me) will remit to the ATO.

  • Ivan Podres commented  ·   ·  Report

    Please get this done asap it would be so helpful to get paid on time more often!

  • Peter Humphrey commented  ·   ·  Report

    Cash is king. This would encourage our clients to pay faster

  • Udo Systems Accounts commented  ·   ·  Report

    Would be great to see 2 levels of discounts.

    Pay on time discount & pay early discount structures.

    And setting rules for customers with these in place so it recognizes the payment amounts.

    thanks

  • Brian Kenny commented  ·   ·  Report

    A customer pays $1,000.00 to settle a $1,000.50 invoice. Button please to allow the $0.50 discount. Or, allowing a customer 2% discount for payment within 7 days, button with discount % rate please. Thank you :)

  • Richard Penny commented  ·   ·  Report

    Cash flow is such a challenge and having the ability to add a discount for payment on time is critical. Its already used in many applications, like Speeding fines, Car Registration, Council Rates so we need to have this option added ASAP.

  • Thomas Liu commented  ·   ·  Report

    PLEASE! Essential for every business these days. Very helpful to cash flow.

  • Grant Smith commented  ·   ·  Report

    How is this not already done. Early payment discounts generate sales! Get this done ASAP, please

  • Tomas Finneran commented  ·   ·  Report

    This is also vital for customer statements, and ideally where the discount could be calculated and displayed automatically e.g.

    "Pay the balance of your fees before 31st March 2023 and save [5% of their balance shown here in € ]"

  • Riaan Badenhorst commented  ·   ·  Report

    @Tomas Finneran. I honestly have given up. Don't need frustration in my life. I have seen less voted and less importants features added. Cannot say how they evaluate a request. My clients that is on Xero (pay for Xero themselves) have left at Xero. Clients I pay for, I have moved to something more suitable. I do not recommend may clients Xero any longer, but If they want Xero, I do assist.

  • Tomas Finneran commented  ·   ·  Report

    This feature is vital, find it strange that Xero would not want to include it. Please add as soon as possible.

  • Christa Boren commented  ·   ·  Report

    @PamDyer
    Your timing here is perfect. This is becoming critical for us and Xero seems to have no intention of ever implementing this change. I was just going to ask which other services have this feature as we have no hope of Xero helping at this point. Will start looking at Sage and Quickbooks.

  • Pam Dyer commented  ·   ·  Report

    We are new to Xero and we too offer early payment discounts. So surprised to see this basic feature isn't standard in Xero. Both QuickBooks and Sage have this feature. Entering a CRN for each discount is extremely time consuming. Please add this feature asap!

  • Riaan Badenhorst commented  ·   ·  Report

    @Kevin Burrows. There is a better chance for peace in the Middle-East before Xero will listen to, what should be industry standard feature.

  • kevin Burrows commented  ·   ·  Report

    Please instigate this feature, it is essential to our business.

  • Thomas Unwin commented  ·   ·  Report

    Yes spot on Riaan - there's one issue i saw a couple of months ago which only had 2 votes at the time and was already "Under Review" with a Xero employee called Kelly having replied.

    The issue was to "add more gender options". Not that i'm denigrating the specific request, but there were only 2 votes on it when i first saw it and it was already under review with a response!!

    Meanwhile, as per my original comment below here - THIS issue which is pretty vital, speaks directly to Xero's "WHY"/ stated purpose of existing and that, when you add together with other postings for basically the same thing, has been viewed thousands of time with no review.

  • Riaan Badenhorst commented  ·   ·  Report

    Yes, Alex with all these comments (and other features that should be considered standard), I do not know as well? Lessor voted request are adhered too. To be brutally honest, its just feels like Xero went from a real peoples company (what I loved from Xero) to a very commercialised, we do what we like business, same as Sage. Maybe money does change one?

  • Alex Watt commented  ·   ·  Report

    Absolutely VITAL for our business. Not sure what to do without it to be honest.

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