Hi everyone, we thoroughly appreciate everyone’s interest and support for enabling the ability to apply a prompt payment discount to invoices.
We understand how a direct prompt payment discount feature would improve the efficiency and automate manual efforts currently involved for you all here, but would like to be transparent that this isn’t something we’ve been able to roadmap atm.
Right now, one way to indicate that your business accepts or will apply a discount for prompt payment would be to write this into the invoice payment terms. When acted on there are a few ways you could consider recording this in Xero, such as;
Edit the invoice to apply a discount directly
Edit the invoice to add a negative line that directly draws down the total amount of the invoice
Apply a credit to the invoice for the portion of the discount
We'd recommend connecting with your Xero advisor on how they'd recommend recording this in your org.
Alternatively, there are connected invoicing apps that you can explore through our Xero App store.
We'll continue to track support through this idea, and our product teams will continue to consider this in future planning, so if there’s any updates we’ll share here. Thanks
Hi everyone, we thoroughly appreciate everyone’s interest and support for enabling the ability to apply a prompt payment discount to invoices.
We understand how a direct prompt payment discount feature would improve the efficiency and automate manual efforts currently involved for you all here, but would like to be transparent that this isn’t something we’ve been able to roadmap atm.
Right now, one way to indicate that your business accepts or will apply a discount for prompt payment would be to write this into the invoice payment terms. When acted on there are a few ways you could consider recording this in Xero, such as;
Edit the invoice to apply a discount directly
Edit the invoice to add a negative line that directly draws down the total amount of the invoice
Apply a credit to the invoice for the portion of the discount
Xero often makes a lot of press release noise about payment delays in small business, A built in prompt payment discount would automate that instantly and would only take Xero to look at the terms and due date already living in the invoice. I could make ALL invoices 20% higher as default.... then if people pay them ontime, they get the discount. Instant fix and all of the data is already in there. Rather than sending out press releases, build that in and actually put rubber on the road.
Abe Woolley
supported this idea
·
Xero often makes a lot of press release noise about payment delays in small business, A built in prompt payment discount would automate that instantly and would only take Xero to look at the terms and due date already living in the invoice. I could make ALL invoices 20% higher as default.... then if people pay them ontime, they get the discount. Instant fix and all of the data is already in there. Rather than sending out press releases, build that in and actually put rubber on the road.