Setup Example – Supplier Discounts
- Supplier Discounts record settlement discounts and other small discounts granted by suppliers.
- The supplier’s account is debited and the Discount Received account is credited.
- The VAT on a discount depends on the invoice that the discount is for. In this example, the defaults reverse input VAT at the standard rate (Input – (e.g. Supplier Debit Notes)); you can change the VAT Type when you capture the discount.
💡This page provides an example of a Transaction Type setup for Supplier Discounts.
In this example, Supplier Discounts are posted to the ledger (Dr Supplier, Cr Discount Received).
Header
- Description: Supplier Discounts
- Code: SUP DIS
- Entities: All
Settings (tab)
- This section lists the compulsory and optional settings that can be used to customise Supplier Discounts.
- Settings with Default as part of the name can be changed when capturing a transaction.
| Setting | Description | Value | When Required |
|---|---|---|---|
| Accounting > Credit Type | Select from a dropdown list of account types. The options are:
| Ledger | Always |
| Accounting > Currencies | Select which currencies apply to the Transaction Type. The options are:
| All | If supplier accounts are in more than one currency. |
| Accounting > Debit Type | Select from a dropdown list of account types. The options are:
| Supplier | Always |
| Accounting > Default – Credit Account | Select a default account from the dropdown list. | Discount Received | Always |
| Accounting > Default – VAT Category (Input/Output) | Select a VAT Category from these options:
| Input – (e.g. Supplier Debit Notes) | Always if you are registered for VAT. |
| Accounting > Default – VAT Type | Select a default VAT Type for the Transaction Type from a dropdown list of all the created VAT types. | Standard | Always if you are registered for VAT. |
| Accounting > Enable Accounting | A checkbox. If checked, accounting is enabled. If unchecked, transactions are created in the module and not posted to the ledger. | Check the box. | Always |
| Accounting > Pricing | Select a pricing option from the dropdown list:
| Accounting | Always |
| Defaults > Default – Data Filter | The default filter when you view a list of transactions for the Transaction Type. The options are:
| Select an option from the dropdown list. | The default filter is:
|
| General > Enable Company | Select what type of company should be in the header:
| Suppliers (All) | Always |
| General > Enable Entities | Select an option from the dropdown list:
| Branch | If you want to allocate Supplier Discounts to a branch. |
| General > Reference Lookup | Enter Reference lookup lists. | Click the Value column and enter the lookup entries, one per line. Check the Auto Height box to show the full lookup list. | If you want staff to select a reference from a lookup list instead of entering one. |
| Transaction Items > Enable Adding Items | Specify which type of items can be added to a transaction. The options are:
All the buttons to add items still appear. A disabled feature shows an error message when clicked. | Custom | Always |
Statuses (tab)
- You may create an unlimited number of statuses.
- However, there are only four Status Groups:
- Pending
- Active
- Complete
- Cancelled
- The first status should allow editing.
- The final status should ideally not allow editing.
- If the setting Accounting > Enable Accounting is checked, at least one status should have the Accounting column checked.
- If inventory is used, at least one status should have the Inventory column checked.
- If editing is allowed when the inventory or accounting columns are checked, any accounting or inventory reports should be considered provisional.
Categories (tab)
- Use categories to sort records.
- The categories you choose should be meaningful to your business.
- Using categories is optional but recommended.
- Categories can be copied from another Transaction Type. The existing categories are replaced by the copied categories.
This example has no categories. If you want to sort your Supplier Discounts (e.g. by type of discount, such as settlement discount or rebate), create your own categories. See Transaction Categories Tutorials.
Copy Rules (tab)
- Copy Rules determine when transactions may be copied.
- Although two transactions are involved in the copy, you only need to create one Copy Rule.
- User access must be set for each Copy Rule.
- You can automate copying transactions by selecting a Trigger status.
No Copy Rules.
Output Templates (tab)
- Output Templates are the forms you need to print, preview or email a transaction (e.g. invoices).
- Default templates are included. They automatically show your company name, logo and bank details, as filled in on the Output tab of a registered entity.
- You may edit these templates to include or exclude information.
- You may also create your own forms and templates from scratch.
No default templates. If you want to print or email these transactions, you can create your own templates (see Output Template Tutorials) or contact QuickEasy Support to create templates for you.