Discount rates applied to discounted payments can be defined by payment days. This operation is performed using Discounted Payment Conditions option located in the F9/right mouse button menu of the payment plan lines, and the payment transactions (partial/average) option located in the right mouse button menu of slips and invoices.
The Day field is used to specify how many days before and after the payment date the discount will be applied. A - sign after the day indicates a prepayment discount, while a + sign indicates a discount for delayed payment. If the discount is not subjected to different conditions, the discount to be applied is recorded on the related field of the payment plan. Only one discount condition can be defined for a day.
The Payment transactions (Partial/Average) option located in the right mouse button menu of slips and invoices is used to record the payment transactions of the transaction on the line. The Discounted Payment Conditions option located in the right mouse button menu of the payment transactions window is used to list the discount and discount validity dates related to the payment transaction.
The Discount and Discount Validity date applied to the transaction can also be entered directly while the invoice is recorded.
Example:
Discount conditions defined using the discounted payment conditions option located in the right mouse button menu of the payment collection plan line are given below.
Day | Discount |
-4 | 15 |
-2 | 10 |
+1 | 5 |
If a payment transaction is generated on 12.05.2003 depending on the payment plan line related to defined discounted payment conditions, the discounted payment conditions related to such transaction are:
Discount | Discount Validity Date |
15 | 08.05.2003 |
10 | 10.05.2003 |
5 | 13.05.2003 |
According to the definition, a discount of 15% is applied for payments processed up to 4 days before the payment day. 4 days (including the payment date) before the payment date (12.05.2003) is 08.05.2003. According to this calculation, payments processed until the payment date (including 08.05.2003) are subject to a discount of 15%. Likewise, the discount of 10% applied to payments processed at least 2 days before the payment date are valid until 10.05.2003. The discount applied to payments processed 1 day after the payment date is valid until 13.05.2003.
Although discount validity dates and discount rates can be changed, the same discount validity date cannot be repeated. Changes made on the due date are automatically reflected on discount validity dates. For instance, if the Due Date is postponed for 3 days, the discount validity date is postponed for 3 days as well.
The cash/collection payment date is displayed bold on the discounted payment transaction window accessed from the lines when a cash payment or collection is performed, if it meets any condition related to the outstanding payment transaction. The discount validity date and discount rate are the date and rate applied on the condition. Even if none of the payment transaction conditions is met, in other words, even if all Discount Validity Dates are expired, this payment transaction is displayed in gray as if the last condition is met. The user may apply discounted payment for this payment transaction, but such process would not be valid. In such attempts, the user is warned with the "Discount Validity Date Is Expired" message.