To Apply Cash Discounts

Some vendors may offer you cash discounts if you pay bills promptly or ahead of schedule. In MYOB Advanced, the details of these discounts are specified in each vendor's credit terms, which are defined on the Credit Terms (CS206500) form, and specified for the vendor on the Vendors (AP303000) form (where you also specify the lead time—the number of days needed for the payment to reach the vendor). The system calculates due dates and available cash discounts automatically, based on the vendor's credit terms.

On the Approve Bills for Payment (AP502000) form, you can select multiple bills with available discounts and approve them for payment.

To Apply Cash Discounts

1. Open the Approve Bills for Payment (AP502000) form.
2. In the Selection Date box, select the date of approval, which will also be used as the pay date.
3. In the Selection area, select the Cash Discount Expires in Less Than check box and specify a number of days, to view only the documents with discounts expiring within the specified number of days. When you specify this number, remember to add the lead time to make sure the bill will be paid on time.
4. Ensure that the Show Approved For Payment check box is cleared.
5. Select the Show Not Approved For Payment check box to include in the list the documents that are not yet approved for payment.
6. Optional: In the Currency box, select a currency to view only documents denominated in this currency.
7. Optional: If vendors are assigned to classes based on the payment lead time or vendor size, select the applicable vendor class to first pay major vendors and get the largest discounts.
8. By using the check boxes in the unlabeled column, select the documents with a cash discount available, to approve these documents for payment.
9. Click Save.

After you approve the bills with discounts for payments, you need to promptly pay those bills. For details, see AP Bill Payments: Process Activity.

Notes About the Procedure

The notes in this section describe the nuances of the UI elements available on the form, such as when an element is required and when it is not, and when the system fills in settings by default. This section can include other notes.

Note the following about the table elements:

• In the table, you can use filtering to display the documents you want to view on this form. For more information, see Saving of Filters for Future Use.