This report at Accounting Reports / Accounts Receivable / Sales displays information regarding discounts on Invoices and can be used to find net sales after discounts.
It can be sorted Customer by Product, Product by Customer, or Farm and will display subtotals accordingly as well as grand totals at the end.
The Gross section of the report displays the Quantity, Selling $/Unit, and Extension (Quantity x Selling $/Unit) from Customer Invoices.
The Discount Offered section displays Offered Discount, Offered $/Unit, and Net Extension from Customer Invoices.
- Offered Discount – This is the dollar amount of the discount per unit.
- Offered $/Unit – This is the unit price including the discount.
- Net Extension – This is the extension less the total discount.
The Discount Taken section displays the total discount taken on the Payment on Account screen if a discount was originally offered on the Invoice - Effective Discount, Effective $/Unit, and Total Sales. This section is prorated across all discountable line items on the Invoice if the Invoice has been partially or totally paid. It will not include any discount amount(s) applied to Invoices at the Payment on Account screen if a discount was not originally offered on the Invoice(s).
Each Line Item = (Offered Discount * Quantity) / Billing Divisor
The Effective Discount is the dollar amount of discount per unit taken.
(Total per line / Total of all lines) * Total of Offered Discounts for all lines * Billing Divisor / Quantity per line
- Effective $/Unit – This is the unit price including the discount taken.
- Total Sales – This is the gross extension less all discounts taken.
The Discount Taken section must be calculated this way due to partial payments, discounts, or edited discounts at the time of payment.
If no payments have been taken, the Effective Discount and Effective $/Unit will display zero dollars and Total Discountable Sales will be the same as the Extension.
Example: Invoice A is for 10 gallons of Roundup at $100/gallon. There is a 3% discount offered. At time of payment, an extra 1% discount is entered on the Payment on Account screen. A total payment of $960.00 is taken against Invoice A to pay it in full.
The report would display:
- Quantity – 10
- Selling $/Unit – $100.00 Gallon
- Extension – $1,000.00
- Offered Discount – $3.00
- Offered $/Unit – $97.00
- Net Extension – $970.00
- Effective Discount – $4.00
- Effective $/Unit – $96.00
- Total Sales – $960.00
