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  1. Invoice - Prompt Payment / Settlement Discount

    325 votes

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    submitted  ·  98 comments  ·  For small businesses » Business features  ·  Admin →
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    Brian Kenny commented  · 

    This is a simple thing that has been available in accounting software since the year dot. It is a time saving tool that also assists to ensure a lesser chance of mistakes being made.

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    Brian Kenny commented  · 

    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.

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    Brian Kenny commented  · 

    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 :)

    Brian Kenny supported this idea  ·