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Stefan Arak

A4 Inv Settlement Discount is not showing any discount amount despite having a settlement discount being present in the customer credit control.

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Hi there. The details of my sage are as follows:

Version Number: 23.1.0.143

SBD Desktop version: 14.0.54.0

Updates installed: service pack 1

Report Designer Version: 1.4.2015.05

 

I am trying to give a customer a 15% discount if they pay within the agreed terms, and this is no problem, I understand how to post it using the discount system and discount inc. vat, once they actually pay me. The problem is that when I run the report A4 Inv Settlement Discount, in the bottom panel it states

"a discount of 0% of the full price applies... within 0 days of the invoice date... 

If you pay within 0 days the discounted price is: [same price as normal invoice]"

Does anyone know why this would be the case? In credit control for that customer I have settlement discount set to 15 and it says 'settlement due 45 days'. Is there something I am missing here that will 'enable' the discount, 

 

Thanks very much for your help.

 

  • 0
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    Hi Stefan

    Previously, when you raised an invoice or order that included a settlement discount, the VAT element was reduced by the discount rate. Your customer only had to pay the reduced VAT amount, regardless of whether or not they paid in time to get the settlement discount.

    Under the new rules, if you're paid before or when the invoice is raised, you can create the invoice for the discounted net and VAT amounts. If the invoice isn't paid, it must show the full net and VAT amounts. The same rules apply to invoices and orders from your suppliers. The same rules apply when you create an invoice or order from your supplier.

    On the customer record, there needs to be a Settlement Due number of days entered as well as the Settlement discount percentage in the Sett. Discount field. This then populates the Settlement Terms area on the Footer tab of the invoice.

    For full information on how to process this in Sage Accounts please refer to Ask Sage article 32645.

*Community Hub is the new name for Sage City