Quickbooks 2019 Tutorial for Beginners - How to Set-Up & Use Customer Discounts

QBUniversity.org - In this Quickbooks 2019 tutorial for beginners I walk you through how to set-up and properly use customer discounts on invoices and sales receipts.
Giving discounts in business can be a good idea to reward certain customers. Or a discount could be given for some limited time promotion.
This video walks you through how to properly set-up these discounts, and also shows you the right was to show them on your profit and loss statement so you can track them and easily see how much in discounts you are giving.
Discover the 3 most common mistakes Quickbooks Desktop users make and how to avoid them by getting my 3 free Quickbooks videos at QBUniversity.org

[@ericaaldaco54]

This was Extremely helpful!

[@QbuniversityOrg]

Awesome, glad it helped!

[@ericaaldaco54]

@@QbuniversityOrg Can you let me know as to why on the setup you chose TAX (instead of NON). My location is California..so I'm not sure if it would match yours as TAX? (It is 4:19 minutes in your video)

[@QbuniversityOrg]

Erica Aldaco there was no rhyme or reason for me choosing that in the video. Quite honestly I don’t think it makes a difference when it comes to the discount. And, you are correct, it could all depend on your state sales tax laws

[@algutierrez967]

Great explanation 👍

[@QbuniversityOrg]

Thanks!

[@cyrusdenlaoso4644]

Thank you. You made my day 🤗🤗☝☝👍👍

[@QbuniversityOrg]

You’re welcome!

[@cyrusdenlaoso4644]

@@QbuniversityOrg will check your vids for more qb desktop tutorial 👍👍

[@QbuniversityOrg]

@@cyrusdenlaoso4644 awesome!

[@sirsquatch2347]

What happens if the customer returns? Will QB try to give the whole amount back or the discounted amount?

[@Lilliane_Njuguna]

How do I give different discount rates on multiple items on a single sales form in QuickBooks Desktop?

[@helmyfenisia5266]

How to do it in QBO, Sir?

[@user-eo1zw6jc9r]

A wonderful and informative video! Very good diction. Please tell me what debit and credit entries of what accounts will there be for this discount? Thanks in advance.

[@QbuniversityOrg]

If you were using a journal entry it would be debit Discount Expense (normally a contra sales account) and credit AR

[@user-eo1zw6jc9r]

Thanks for your reply. But I don’t understand how a discount can be an expense? As far as I understand, the discount is a decrease in income?

[@QbuniversityOrg]

@@user-eo1zw6jc9r correct. A contra revenue account is a reduction in revenue (in a round about way an expense)

[@mohammadarslanzahid4378]

please tell me how can show discount per item?

[@QbuniversityOrg]

You can set up a standard Discount Item on the item list and put this directly on invoices or sales receipts

[@LILIREYESMX]

Hello. It’s me again. 👋🏼 why discount is taxable?and what happens when you record a sales receipt already?

[@ericaaldaco54]

Did you get the answer as to why discount is taxable? I have the same question :)