Taking Vendor Discounts on Bills

This video explains how to configure and apply Vendor Discounts when paying Accounts Payable Bills in 10X ERP. Users can create Payment Terms that include discount percentages and discount periods, then assign those terms to Vendors. During Bill Payment Processing, the system automatically calculates eligible discounts when payments are made within the discount window. Users can also manually apply discounts if a vendor allows the discount after the automatic eligibility period has passed.

• Navigate to Admin > Accounting > Payment Terms to create or review Vendor Payment Terms.
• Configure the Payment Term with Discount Days, Due Days, and Discount Percentage, such as 2% if paid within 10 days with Net 30 terms.
• Assign the Payment Term to the Vendor in the Vendor’s Accounting Section.
• Open Accounting > Accounts Payable to review Vendor Bills available for payment.
• Verify the Discount Date and Discount Amount displayed on eligible Bills before processing payment.
• Select one or multiple Bills to pay, and review the Automatically Applied Discount Amount.
• Adjust the Pay Amount manually if a Vendor allows a Discount after the Automatic Discount Period has expired.
• Confirm the Payment to generate the Remittance showing the Bill Amount, Payment Amount, and Discount Taken.