Adding A discount to the bill Of purchases

Steveal3aneef

Hi Guys

I 've been using wave apps for a year now, I never thought to ask questions on this forum,

my question is, there an easy way to add a discount on a bill given by the supplier,

Your help means a lot to my business. thanks in advance

ConnorM

Hey @Steveal3aneef! The only way to add a discount showing on the bill would be to add a line item with a negative price to the bill. Hope that helps!

crawley7

if the bill has already been reported in a previous period with sales tax added ,by adding a further line with the discount and discount on the sales tax it will throw it out of wack ,surely?

Barsin

Hey there @crawley7

We might need a bit more info about what this looks like in a use-case scenario. Could you elaborate on what you're looking to achieve between your vendor and you?

liezl

Hello @BarsinA
I have the same question on this side.

I get a 20% discount from my supplier. This allows me to charge my clients the recommended retail price while still marking it up with 20%. When I add the products to an invoice, I need the normal retail price to show, not the w/sale price I'm paying.

Also on this...
I must capture the supplier invoice, and add project expenses. This will allow me to see profit.

mhammadlatifACCA

Correctly identified by @BarsinA

Guys you will need to create a new item, enter a negative value which will be manually calculated.

Double Entry:
This will reduce your Accounts Payable (a debit entry) and Credit entry to the expense account (you can also choose a liability, asset etc. in this field) tagged to that item.

Kirui

is that a proper treatment of discounts ,other than purchase discounts as other income and sales discount as expense

Flopbot

For anyone who happens to find this string, note that Wave has since added an Invoice Discount feature to the invoice! So, you don't have to add a -$ line the the invoice.