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Xero Business Community

Xero Business Community

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Community > Accounting >

Settlement / prompt payment discount on invoices

Started by Alistair Dent -   in Accounting

Wondering the best way to reconcile customer payments when there is a settlement discount applied to the invoice. So for instance, a customer invoice was $1000, but as they paid within 7 days, they were eligible for a 2.5% early settlement discount, so only paid $975. What is the quickest way to apply this when reconciling, assuming the $25 difference has to go to an expense code?
Official Xero Reply
Heads up that we've recently updated the Feature Request on Prompt Payment discounts. Make sure you stay updated on the progress of development over there.
 

Brittany H (Community Manager)