Microsoft KB Archive/925205

Knowledge Base

How to record a customer discount after the discount date in Small Business Accounting 2006, in Accounting Express 2007, and in Accounting Professional 2007

Article ID: 925205

Article Last Modified on 8/21/2007

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APPLIES TO

• Microsoft Office Accounting Professional 2007
• Microsoft Office Accounting Express 2007
• Microsoft Office Small Business Accounting 2006
• Microsoft Office Small Business Management Edition 2006

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INTRODUCTION

This article describes how to record a customer discount after the discount date in Microsoft Office Small Business Accounting 2006, in Microsoft Office Accounting Professional 2007, and in Microsoft Office Accounting Express 2007.

MORE INFORMATION

To record a customer discount after the discount date, follow these steps:

1. Apply the payment to the invoice. To do this, follow these steps:
   1. On the Customers menu, click Receive Payment.
   2. Select the customer in the Received from list, and then type the amount of the check that you receive.
   3. Click to select the check box for the invoice that you want to use.
      
      Notes
      • The value in the Cash Discount field is $0.00.
      • The value in the Payment field is the total amount of the check that you receive.
   4. Verify that the amount in the Payment field for the selected invoice matches the amount of the check that you receive, and then click Save and Close.
2. Enter the discount amount in a credit memo. To do this, follow these steps:
   1. On the Customers menu, point to New, and then click New Credit Memo.
   2. Select the customer name in the Customer name list.
   3. In the Products and services pane, click the item icon, and then click Account.
   4. Select Cash Discount Given in the Name list.
   5. Type the discount in the Unit Price field, and then click Save and Close.
3. Apply the discount to the invoice. To do this, follow these steps:
   1. On the Customers menu, select Receive Payment.
   2. Select the customer in the Received from list.
      
      Note The value in the Amount field should be $0.00.
   3. Click to select the check box for the invoice that you want to use.
   4. Click Credits on this invoice line.
   5. Click to select the check box for the credit memo that you created in step 2 of this discount, and then click Adjust.
      
      Note
      • The value in the Payment field becomes $0.00.
      • The value in the Amount field becomes $0.00.
   6. Click Save and Close.

Keywords: kbhowto kbmbsmigrate KB925205

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