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Who doesn't like receiving a discount?

If a supplier offers you a discount (woo-hoo!) here's how you can record in MYOB Essentials.

Payment discounts

You can apply a discount when paying a bill by entering a Discount given amount, the Amount due will be adjusted.

Pay bills page with discount given highlighted

Discounts on bills

MYOB Essentials can't automatically apply discounts when entering bills. But here's a few manual methods which might suit your needs.

UI Expand

title	Add a discount line to a bill

Add a discount line to a bill

This is the easiest way to add a discount to a bill. When entering the bill, add a separate line for the discount.

Enter the discount as a negative amount and allocate it to the applicable discounts taken account (check with your accounting advisor if unsure).

Sample bill with separate discount line with negative value highlighted

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title	Use a discount item (for a set dollar value)

Use a discount item (for a set dollar value)

If you regularly enter a specific discount on bills, such as $10 off, you can create an item (similar to a stock item) to represent the discount. You can then add this item to a bill.

To create the discount item

From the Purchases menu, choose Items.
Click Create item.
Enter a suitable Item Number and Item Name.
Enter a Buy Price as a negative value to represent the discount, for example -$10.00
In the Allocated to field, select the applicable account.
Select the applicable Tax type. Check with your accounting advisor if you're not sure what to choose.
Click Save.
Here's our example of an item which represents a $10 discount.
Image Modified

To use the discount item on an invoicea bill

When you create an invoice:

Add

a bill, add the discount item

.

Change the Allocate to account to your applicable discounts given account. Check with your accounting advisor if you're not sure what to choose.

Discount item on invoice with Allocate to account highlighted Image Removedcreated earlier. The discount will be applied.

Image Added

UI Expand

title	Use a discount item (for a set percentage)

Use a discount item (for a set percentage)

If you regularly offer receive a specific discount on invoicesbills, such as 10% off, you can create an item (similar to a stock item) to represent the discount. You can then add this item to an invoice a bill and use it to calculate and apply the discount.

To create the discount item

From the Sales Purchases menu, choose Items.
Click Create item.
Enter a suitable Item Number and Item Name.
Enter a Sell Price Buy price as a negative decimal value to represent the discount. For example, a 10% discount would be -$0.10 and a 15% discount would be -$0.15
In the Allocated to field, select any account. You'll need to change the allocation account of this item on the invoicethe applicable account.
Select the applicable Tax type. Check with your accounting advisor if you're not sure what to choose.
Click Save.
Here's our example of an item which represents a 10% discount.
Image RemovedImage Added

To use the discount item on an invoicea bill

When you create the invoice:

Add the discount item.
Change the Allocate to field to your applicable discounts given account. Check with your accounting advisor if you're not sure what to choose.
In the Units field, enter the pre-discount value of the invoice. The discount percentage will be calculated.

This example shows an invoice for goods totalling $112. By entering 112 in the Units column for the discount item, a 10% discount is calculated.

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Creating invoices

Creating items

Customer payments

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Payment discounts

Discounts on bills

Add a discount line to a bill

Use a discount item (for a set dollar value)

Use a discount item (for a set percentage)

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