How to set up a prompt payment discount

Prompt payment discounts encourage your customers to pay their account balance quickly.

To apply a prompt payment discount, you must apply the discount to each individual customer account. Discounts can be applied in two ways:

• Trade discounts: These discounts use the pricing plan feature and are assigned to a customer account in the Customers module using the Adjust Pricing Plans [F7] feature on the bottom ribbon. To learn more, see How to set up and apply a trade discount.
• Percentage discounts: This type of discount applies an overall percentage discount to an individual customer account. To learn more, see How to apply a percentage discount to a customer.

To set up a “prompt payment” program, you must set the expiration day for the prompt payment discount:

1. On the File menu, click Setup.
2. Click the Receivables tab.
3. Enter a calendar day for this setting: Disable Prompt Pay Discount After Day of Month.
   Example: If you set this date to 5, then the prompt payment discount will expire if the balance is not paid by the 5^th of the month (Examples: Jan 5, Feb 5, Mar 5, etc.).
   Note: If the calendar day is set to 0, customer account discounts will not expire.
4. Click Save, and then click Close.