Payment Discount Type Field, General Ledger Setup Table
The payment discount can be calculated in two ways: upon invoicing (most common in Spain) or upon payment (common in most European countries/regions).
In this field you can choose which type of Payment Discount best fits your needs. The field displays the following options:
Full Amount
Payment Discount Excluding VAT
Adjust Payment Discount
Payment Discount on Lines
Full Amount
This is the type of payment discount used in United Kingdom. When this option is chosen, the program uses the value from field " Amount Including VAT" to calculate the payment discount .
Like in the payment discount options: Payment Discount Excluding VAT and Adjust Payment Discount , the discount is applied and posted upon payment (as long as the payment date has not exceeded the date in Payment Discount Date Field in the Client entries or Vendor entries windows).
With this option, the program will subtract the full Payment Discount from the Amount Excluding VAT, from the sale-purchase document. This does not change the amount of VAT to be declared to tax authorities.
Payment Discount Excluding VAT
When this option is chosen, the program uses the value from the Amount field to calculate the payment discount .
Similar to the payment discount options: Full Amount and Adjust Payment Discount, the payment discount will be entered upon payment (as long as the payment date is not later than the date specified in the field Date payment discount in the Client entries or Vendor entries window).
Adjust payment discount
When this option is chosen, the program uses the value in field Amount Including VAT to calculate the payment discount .
Similar to the payment discount options: Full amount and Payment Discount Excluding VAT, the payment discount will be applied and entered upon payment (as long as the payment date is not later than the date specified in the field Date payment discount in the Client entries or Vendor entries window).
When this option is chosen, the program will recalculate the amounts of the VAT when payments are entered that have an payment discount . The VAT is reduced in proportion to the full payment discount . (For example, if the payment discount is 18 ESP, the program will subtract 2 ESP from the VAT and 16 from the amount in the sales-purchase document)
When this field is clicked in, the overall feature is activated. To use it for different combinations of VAT posting groups, activate the field Adjust for payment discount .
Payment discount in lines
This is the most common option in Spain. The payment discount is calculated from the amount of the purchase - sale document, excluding VAT, and is posted and subtracted from the amount of the invoice when the invoice is generated and posted.
When this option is chosen, you must choose the form in which the payment discount will be calculated in field Calculation discount.
Tip
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Parent Tables
| Table | Location |
|---|---|
| Global Dimension 2 Code Field, General Ledger Setup Table | General Ledger |
| Global Dimension 2 Code Field, General Ledger Setup Table | General Ledger |
| General Ledger Setup Table | General Ledger |
| Global Dimension 2 Code Field, General Ledger Setup Table | General Ledger |
| General Ledger Setup Table | General Ledger |
| Global Dimension 2 Code Field, General Ledger Setup Table | General Ledger |