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Settlement Discounts

  • January 24, 2024
  • 2 replies
  • 131 views

We have a number of customers that require a discount to be applied at time of payment. The system has a settlement disocunt but its linked to a prompt payment date which is not how our customers pay their bills - the current agreement is that they will take up the settlement discount regardless of a due date. Has anyone else encountered this and how can we handle it in the system? 
Thanks!

Best answer by Laura03

Hello,

Could you possibly use Write-Off Reason Codes to a Payment Discount account?

Please consider:

Balance Write-off Reason Code using Cash Discount Account
Enter Cash Discount with Discount W/O Reason Code

 

Note, there is some related configuration to be entered on the Customer Profile, to allow Write-offs of a certain Limit:

Laura

2 replies

Laura03
Captain II
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  • Captain II
  • Answer
  • January 24, 2024

Hello,

Could you possibly use Write-Off Reason Codes to a Payment Discount account?

Please consider:

Balance Write-off Reason Code using Cash Discount Account
Enter Cash Discount with Discount W/O Reason Code

 

Note, there is some related configuration to be entered on the Customer Profile, to allow Write-offs of a certain Limit:

Laura


  • Author
  • Freshman I
  • February 2, 2024

Thank you Laura,
This is an option.. appreciate the response!