Supplier discounts

https://help.myob.com/wiki/x/qpNqAg

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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.

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

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.

To use the discount item on a bill

When you create a bill, add the discount item created above. The discount will be applied.

Use a discount item (for a set percentage)

If you regularly receive 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 and use it to calculate and apply the discount.

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 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 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.

To use the discount item on a bill

When you create a bill:

Add the discount item created above.
In the Units field, enter the pre-discount value of the bill. The discount percentage will be calculated.

This example shows a bill for goods totalling $112. By entering 112 in the Units column for the discount item, a 10% discount is calculated.
example bill with 10 percent discount applied