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Create Discount Items in QuickBooks Pro – Tutorial

by / Tuesday, 01 August 2017 / Published in Latest, Quickbooks

Create Discount Items in QuickBooks Pro: Overview

            You can create Discount items in QuickBooks Pro within the Item List. These items discount the line item immediately above the “Discount” line item within a sales form. When added to a sales form, it applies the discount to the line item amount directly above it. However, it is not applied to any other line items previously entered. Therefore, this item is often used in conjunction with the “Subtotal” item in sales forms.

            For example, you can place the subtotal item underneath a list of line items within an invoice to get a subtotal amount. Then place the discount item under the subtotal item to remove the amount or percentage specified by the discount item from the subtotal.

            To create Discount items in QuickBooks Pro, open the “Item List.” Then click the “Item” button in the lower-left corner of the list window. Select the “New” command from the pop-up menu to open a “New Item” window. In the “New Item” window, select “Discount” from the “Type” drop-down. Then enter a name for the discount into the “Item Name/Number” box. If the discount is a subitem of another discount item you created, check the “Subitem of” checkbox. Then select its main discount item from the adjacent drop-down.

Create Discount Items in QuickBooks Pro - Tutorial: A picture of a user creating a “Discount” item within QuickBooks Pro.

Create Discount Items in QuickBooks Pro – Tutorial: A picture of a user creating a “Discount” item within QuickBooks Pro.

            Enter a description of the discount to display in sales forms into the “Description” field. Enter either the percentage or amount of the discount into the “Amount or %” field. You must include the percent symbol if the number you enter is a percentage discount. Otherwise, QuickBooks assumes the number you enter is a dollar amount.

            Select the account you use to track discount amounts from the “Account” drop-down. Finally, use the “Tax Code” drop-down to choose whether to take the discount before or after calculating sales tax. Select “Tax” to apply the discount before calculating sales tax. Alternatively, select “Non” to apply the discount after calculating sales tax. After creating the “Discount” item, click the “OK” button to save the item into the “Item List.”

Create Discount Items in QuickBooks Pro: Instructions

  1. To create Discount items in QuickBooks Pro, select “Lists| Item list” from the Menu Bar to open the “Item List.”
  2. Then click the “Item” button in the lower-left corner of the list window.
  3. Select the “New” command from the pop-up menu to open a “New Item” window.
  4. In the “New Item” window, select “Discount” from the “Type” drop-down.
  5. Then enter a name for the discount into the “Item Name/Number” field.
  6. To make the discount a subitem of another discount item, check the “Subitem of” checkbox.
  7. Then select the main discount item under which to categorize this item from the adjacent drop-down.
  8. Enter a description of the discount to display in sales forms into the “Description” field.
  9. Enter either the percentage or amount of the discount into the “Amount or %” field. You must include the percent symbol if the number you enter is a percentage discount. Otherwise, QuickBooks assumes the number you enter is a dollar amount.
  10. Select the account you use to track discount amounts from the “Account” drop-down.
  11. To apply the discount before calculating sales tax, select “Tax” from the “Tax Code” drop-down.
  12. Alternatively, to apply the discount after calculating sales tax, select “Non” from the “Tax Code” drop-down
  13. To save the item into the “Item List” after creating the “Discount” item, click the “OK” button.

Create Discount Items in QuickBooks Pro: Video Lesson

            The following video lesson, titled “Discounts,” shows you how to create discount items in QuickBooks Pro. This video lesson is from our complete QuickBooks Pro 2017 training, titled “Mastering QuickBooks Made Easy v.2017.”

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