Reckon/Quickbooks – Adding a % Fee Discount Before the Total on an Invoice


 

Reckon/Quickbooks – Adding a % Fee Before the Total on an Invoice
Reckon/Quickbooks – Adding a % Fee Before the Total on an Invoice

Client called asking: How can they add a 5% service charge to an invoice before the final total?

Answer: Because Reckon Accounts calculates percentages only on the line above, you must subtotal the items before entering a discount item that calculates on a percentage basis. A subtotal item is created – it totals the amounts of the items above it, up to the last subtotal. You must create a subtotal item if you ever want to apply a percentage discount to several items.

To create the Subtotal item:

Go to the Lists menu and click Item List.

Click Item at the bottom of the list and click New.

Click the Type drop-down arrow and then click Subtotal.

Enter an item name, such as Subtotal.

Enter the description that you want Reckon Accounts to put on your sales forms when you apply the subtotal.

Record the item.

On the sales form, insert the subtotal item immediately after the items that you want to subtotal.

To automate the calculation of the discount on the subtotal:

Go to the Lists menu and click Item List.

Click Item at the bottom of the list and then click New.

In the New Item window, click the Type drop-down arrow and then click Discount.

Enter an item name, such as Discount.

Enter the Description that you want Reckon Accounts to put on your sales forms when you apply the discount.

In the Amount or % field, enter the discount amount or percentage:

If the discount is a percentage, enter the number of the discount followed by the % symbol. For example, 5% tells Reckon Accounts to multiply the previous line by .05.

(If your discount amounts vary, you can leave the Amount or % field blank and enter the amount directly on your sales forms.)

Click the Account drop-down arrow and then click the income account you want to use to track discounts you give to customers.

When an income account tracks discounts on sales, the account is often called a “contra-income” account.

Click the Tax Code drop-down arrow and choose a tax code for this item.

If you select a taxable code, the discount you specify on taxable sales is applied before the tax is calculated. If you select a non-taxable code, the discount is applied after the tax is calculated.

Click OK or click Next to create another item.

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5 thoughts on “Reckon/Quickbooks – Adding a % Fee Discount Before the Total on an Invoice

  1. Tracy Connors May 4, 2014 — 8:05 pm

    Thanks for the answer, as I have the same query, but I don’t know that you actually answered the question. I think she wanted to ADD a service charge, not DEDUCT a discount. You have talked about applying discounts, but not about adding a percentage increase to the subtotal. I know how to subtotal, but cannot find how to apply a percentage increase, or a percentage discount. Your comments would be appreciated. Thanks.

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    1. HI Tracy, Apologies for the long delay in response! Yes I have mixed up my words while I wrote. The post IS about applying a discount not adding a charge. I have had to check this out and test if a work-around was possible, but not a chance unfortunately! The discount item works fine with a Subtotal item before it, but there is no item in Reckon that will ADD a percent! I was trialling to see if we could put a negative % as the Discount item amount – both in the Item itself, or on the invoice, but it can’t be tricked, nor having a negative Qty! Would be nice yes – will have to be entered as a manually-calculated amount. Will have to tell Reckon it is a Wish-List dream!

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  2. Thanks for this article. I really find it hard to add a percentage service charge to an invoice before the final total. This is big help for me!

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    1. Thanks, glad it helped! Thanks for reading – let us know if there is anything else you need help with, Paul

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  3. Great article! Thanks for sharing this article.I think that this article is really great and will help me to do my invoices properly. I will share this article to my other business owners as well.

    Like

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