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  • Section: Purchases
  • Last updated: July 1, 2019, 5:29 p.m.

Early Vendor Payment Discount

The discount for early payment of a purchase is based on the original purchase amount of the PO.

  • A Purchase Order for $100.00 is entered with a date of 3/10/2013. Terms allow for a 2% discount if paid within 10 days (3/20/2013).
  • A $10.00 Debit memo is applied to the PO, leaving a $90.00 total due on the PO.
  • A vendor payment is made on 3/15/2013, which allows you to take the discount for early payment. AccountEdge will calculate the 2% discount as $2.00, based on the original $100.00 amount of the PO.