Process and pay bills with discounts

When you make early payment on bills with AP terms that include vendor discount, Intacct automatically calculates the discount. The Amount to pay is automatically adjusted based on the term when you select the bill for payment in Pay bills.

You can drill down from the discount amount to view or change the payment date of the bill and the date of the discount.

Discounts and penalties are not available for entities with VAT/GST enabled.

Say you added a default term to a vendor record. That term automatically gets added to each new bill created for that vendor. It's possible you might have some bills for services that should not have the discount applied. In Pay bills, you can change the discount date to be out of the term range for the specific bill. If the date is not within the range of the term, for example within Net 30, or within the number of grace days, the discount will not be applied.

Changing the dates can cause Intacct to include or exclude the discount as needed. Partial payments do not support discounts. To apply a discount, make sure to pay the bill in full.

Subscription Accounts Payable
User type Business
Permissions Pay bills: Run
  1. Go to Accounts Payable > All > Pay bills.
  2. To load bills to pay, apply a filter.
    You do not need to filter for discounted bills in order to apply the discounts. You can apply the filter that best suits your business needs. After you select bills, the Discounts column shows a discount amount for those bills on the payment date you selected.
    1. Enter a Filter name, such as Discounts available.
    2. Select the Filter by dropdown, and select Add a filter set.
    3. For Discount available as of, select the payment date.
      In the future, you will need to edit the date for this filter before applying it.
    4. Add any additional filter criteria that you require.
    5. Select Save.
    6. Select Apply filter.
  3. Select the Payment date, Bank, Payment method, and Bill currency, as applicable.
  4. Select bills you want to pay.

    When you select a bill for payment, the Amount to pay column is updated. For bills with discounts, this value is the bill amount minus the available discount and any available credits that you choose to apply.

  5. To update the Payment date to match the Discount date for an individual bill:
    1. Select the link in the Discount column next to the bill to open the Apply discount popup.
    2. Select Save.
  6. To view or edit the Payment date or Discount as of date for an individual bill:
    1. Select the link in the Discount column next to the bill.

      The Apply Discount popup shows:

      • Payment date: The currently selected payment date.
      • Discount cut off: The last date when the discount is available, according to the Term selected for this bill.
      • Discount as of: The date you are using to calculate applicability of the discount, which is the same as the payment date by default.
      • Discount available: The amount of the discount, as defined by the Term.
    2. Change the Payment date for the bill or the Discount as of date, as needed.

      For example, to exclude this bill from a discount that would otherwise be automatically applied, change Discount as of to a date that occurs after the Discount cut off.

      When you change the Payment date here, the change affects payment for this bill only.
    3. Select Save.
  7. Continue to pay the bill in full.