Odoo Addons (MOVED TO GITHUB)

financial account for discounts

Asked by Joel Cabral

Where would I define the financial account for my discounts? Should my discount be recorded in my chart of accounts?

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Vinay Rana (OpenERP)
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Best Vinay Rana (OpenERP) (vra-openerp) said : 		#1

Hello,

There is following two ways are possible related Discount :

1. When you issue discount at the time of preparing invoice and that discount is not recorded in account.
2. Another one when you received amount from customer that time if you want to give discount to customer that time you need to use write off wizard which is automatically called at the time of invoice payment wizard , it will check the paid amt is less then total amount then remaining amount is consider as a write off and this all thing happened when you press full payment not partial one and entry should done automatically in write off account (Discount account.).

Hope you understand what i want to tell you.

Thanks.

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Joel Cabral (hephaestus) said : 		#2

Thanks Vinay Rana (openerp), that solved my question.

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David Mitchell (www.novapointgroup.com) (david-novapointgroup.com) said : 		#3

Joel,

There is another scenario and enhancement we did for v6 that you can find in lp:openerp-usa.

Applying a Sales "cash" discount for early payment. This is associated with giving payment terms to the customer (e.g. 1/10 Net 30 or rather 1% discount if paid within 10 days, the whole amount is due in 30 days).

We found the write-off wizard described above to be lacking. So we created several additional modules to address it:
account_voucher_credit_us <--- allows for a more flexible application of managing credit memos.
account_cash_discount_us <--- by clicking on a payment line it displays a wizard which allows for managing the discount and easily applying it against invoices, and displaying additional fields like the calculated discount amount, etc
account_voucher_writeoff_us <--- this puts write-off in the same wizard as well.

This is similar to what users may find in Quickbooks.

The design have been made to also be extended in the future - for instance to manage the calculation and assignment of finance charges on past due customer invoices.

To access the wizard with any of these installed you would click on a specific invoice in the customer payment (aka account voucher) list on a form view.

As part of setup to configure at the company level your default sales discount account (for cash discounts) as well so the compound journal entries are automatically generated.

Hopefully, that will also be an option for you.

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Joel Cabral (hephaestus) said : 		#4

Hi David,

This is very nice... Thanks,, I will check if this modules and see if we could incorporate it when we are ready to migrate to v6...

Thanks again,