Discounts in Invoicing

[billbailey]

We have just installed Peachtree Premium Accounting 2006 and upgraded from an old DOS (Realworld) system. Everything seems fine, except we have not found a way to apply a percentage discount to an invoice. We can use multiple price levels on line items, but we need to be able to discount by a random percentage on the overall invoice. Any suggestions?

[rick Prindivill]

A discount feature the likes of what you have described does not currently exist in Peachtree.

However, as a workaround, you could setup an Inventory Item labeled "DISC" or something comparable while providing a detailed invoice line description for this item. On the invoice body, you would enter a QTY consistent with the discount % as a negative decimal figure (10% = - 0.10) and on the same line under Unit Amount, you would enter the value of the invoice or the value to be subject to the discount. Peachtree will then compute a negative line value or discount amount. When you define the Inventory Item, you will include the GL Discount Account applicable in the Inentory Item field labeled - GL Sales Account. On the other two GL fields in the Maintain Items screen related to Inventory and Cost of Sales GL Accounts, you could enter the Cost of Sales GL account in both locations. This would result in a null entry.