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Accounts Payable - Discount Reports
The Discount Reports provide information on invoices that are eligible for early-payment discounts and the status if your company avails of the early payment discounts. The information generated from these reports are based on the payment terms specified in the Terms field of the AP Invoice Transactions function and in the recurring AP invoice templates if the invoices are generated from these templates. These reports are useful in managing your resources such as cash and cost savings. Each discount report is especially designed to provide several options so you can narrow down data to the specific information needed. Read the information below to get a closer look at each of the Discount Reports available in AccountMate.
Suggested Discount Report
The Suggested Discount Report lists all invoices that qualify for early payment discount as of the given report date. The suggested discount amount is system-computed based on the values entered in the Terms field of the AP Invoice Transactions and Recurring Invoice Setup functions. This report is useful in determining the invoices that are qualified for early-payment discounts as of a given date and in effectively managing the cash outflows.
You can specify the report's cut-off date in the Report Date field. You can also opt to show multi-currencies.
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Discount Taken Report
The Discount Taken Report lists all invoices that have availed of early payment discounts. This report excludes the invoice discounts to be taken unless a check is printed or a handwritten check is recorded for the invoices. This report is useful in reviewing how well you are taking advantage of the early payment discounts. You can also use this report with the Discount Lost Reports to assess your overall discount-taking effectiveness.
Depending upon the chosen report criteria, you can generate the report only for invoices with discounts taken, only for invoices that have not availed of discounts, or all invoices subject to discounts. You can opt to show multi-currencies in this report.
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Discount Lost on Paid Invoices Report
The Discount Lost on Paid Invoices Report displays a list of invoices and their corresponding early-payment discounts that are not availed of. The report is limited to fully paid AP invoices.
This report is useful in reviewing your standing on early-payment discounts availed for paid AP invoices. When used alongside the Discount Taken Report and the Discount Lost on Open Invoices Report, it helps you assess your overall effectiveness in taking advantage of early-payment discounts.
You can opt to show multi-currencies in this report.
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Discount Lost on Open Invoices Report
The Discount Lost on Open Invoices Report generates a list of outstanding invoices, as of a certain date, for which the discount period has already lapsed. This report is useful in reviewing your standing on early-payment discounts availed for unpaid AP invoices. When used alongside the Discount Taken Report, it helps you assess your overall effectiveness in taking advantage of early-payment discounts.
You need to specify the report's cut-off date in the Report Date field. You can also choose to show multi-currencies in this report.
Click on the image to enlarge view.
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