We give customers a prompt payment discount.
It would be great if we could print this on the invoice. For example, "Total if Paid Before…” I have seen other companies do this on their bills. It might help people pay us faster.
"Discount on Invoice"
I would love to see the early payment discount clearley displayed and explained on invoices printed and on the new online invoices that are emailed. I think debtors would pay more promptly if this was included. I realise that it shows the discounted amount on the online invoice, but there is not explination re cutoff dates or mention that the reduced price is actually a discount for early payment.
I have recently just started to offer this early payment discount to my customers, but subsiquently realised that this discount isnt shown on the invoices ... which I find to be pretty rediculous really, the options of customising the forms arent even an option as the field are just not there to add??
Having trawled through the community group postings, this has now been requested for years I think 2011 / 2012 was the first posting I saw requesting this GUYS ITS NOW 2016 ... yet here we are still asking and still no result.
This really is such a basic feature that a lot of accounting packages have built in as standard.
We cannot rely on our customers to calculate and take the discount off as they always get it wrong.
If a feature like this is available in MYOB (which is it is, all the options are there in the card file) why has it not been fully followed though?
You advertise that MYOB is designed to make accounting and getting paid faster, well adding this feature is a sure way of doing this for a lot of companies, especially those companies who are producing 100's of invoices a month
Hi,
On your sales invoice, I would like to see at the bottom payment amount and date for payments made within our credit tersm.
Totals
If Paid by Due Date
Total
If Paid after due Date
This invoice is quiet clear to me (the customer) that if I pay by the due date I can take up the discount.
Inserting the date to be paid by would be an advantage as well.
Please advise how I can do this. I am using Account Edge.
Thank you, Sharon
Under customer terms if you load a payment discount date where the MYOB information box states "select the date by which payment must be made to receive a discount" This date in exclusive of this date when payments come in. It should really be inclusive of this date. the way it is programmed the discount drops off if the payment is made on this date.
- Status changed:NewtoOpenThanks for the feedback. Sounds like a sensible idea - I wonder if other businesses need this? Use the Vote button if you like this idea.
It's already set up in the card file for customers to receive an early payment discount however this does not display effectively on the customers invoices and statements. "10% within 14 days" is not sufficient and I constantly have issues with customers incorrectly calculating the discount. What I would love is the following:
Data field with timeframe terms only (7 days, 14 days, 20th EOm etc - no percentage discount shown)
Data field for: early settlement discount, total with discount, total without discount.
The above is required for invoices but it would be handy if we had the option to include these fields on statements as well.
I see questions/requests for early payment/settlement discount going back as far as 2007. Why hasn't something that has been asked for for the past 6yrs and is standard in most accounting software not been added already?
I agree totally. We need the ability to apply prompt payment discounts that appear on the invoice.
If my power company can do it, surely we could!!!
I also require this option, my last customer thought the total on the invoice was the discounted one and paid that. Simply writing a line in the invoice or using a comment is not sufficient and this is when misunderstandings can also occur. As many have said before, if the option is in the card file and it shows up in the "Pay bills" section of myob, then surely it should be an option in the customised forms for invoices section.
This task has been delagated to us for a client, have you any progress on a solution?
Our clients old invoicing system (Banklink, now owned by MYOB) used to do this..
Eg total amount payable $156, Total amount payable if paid within 7 days of the invoice date $124.80
Please consider urgently putting this feature onto MYOB Account Right 19.8v and higher. We process approx 1000 invoices per month and we offer a 5% prompt payment discount. Currently we have to go into every recurring invoice and manually add ND or something similar for no PPD. We also want to change the way we process these as it is very time consuming. We want to go to the way Telecom / Vodafone and if a customer pays by a certain day they receive the discount, if they pay after the due date, they don't. All this information needs to show on the invoices. The current data fields don't have this ability.
Hi keylee
A new idea already exists for what you have proposed on this link Prompt Payment Discount on Invoice; I suggest you please read the existing comments, add your own comments and vote for the idea by clicking its '+ Vote' icon.
I voted for it nearly 2 years ago and It presently has 23 Votes and is "Under Consideration"; it needs at least 50 votes before it is ever likely to be implemented.
Thank you.
Thanks for the info. I have added there as well. It's hard to believe that MYOB are so backwards in coming forwards for this. And harder to believe that only 24 of us have voted for it. I hunted for two days to find an answer for this. MYOB needs to up their game.
Please consider urgently putting this feature onto MYOB Account Right 19.8v and higher. We process approx 1000 invoices per month and we offer a 5% prompt payment discount. Currently we have to go into every recurring invoice and manually add ND or something similar for no PPD. We also want to change the way we process these as it is very time consuming. We want to go to the way Telecom / Vodafone and if a customer pays by a certain day they receive the discount, if they pay after the due date, they don't. All this information needs to show on the invoices. The current data fields don't have this ability.
