Discounted payment terms

PayMaker does not currently support discounted payment terms. However, there are a couple of best practices in the PayMaker workflow which will allow you to utilize vendor discounts in the system.

Best Practices based on Workflow

If you enter bills and then pay them

  • When the bill is entered, record the bill amount as the net amount after the discount
  • Recognize the discount by entering a negative value line item on the bill

If you enter the bill, and someone else pays it later

  • When you enter the bill, add a note alerting the payer about the discount terms
  • At the time of paying, the payer (with "Manage Bills" permissions) determines if the bill is eligible for the discount and edits the bill as applicable

If you need to track discount amounts in a separate GL account

  1. Edit the total amount
  2. Add a line item posting to the appropriate account, entering the discount as a negative amount