How do I set up the early payment discount and days to discount in payables and receivables?

How do I set up the early payment discount and days to discount in payables and receivables?

To use early payment discounts, the feature must be enabled in Settings.   Once enabled, the payment term will have two additional fields:   Discount amount (as a percentage) and number of days which will be the number of days from the date of the document that the discount will be honored.     If the receipt or the payment qualifies for the early payment discount, it will be automatically calculated upon creating the receipt/bill payment.

To enable early payment discounts: 

  1. Go to Admin Panel / General Settings
  2. Check the checkbox labeled Allow Discounts in Cash Receipts and Bill Payments
Please see payment terms for instructions on how to configure the payment term.
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