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Discount invoice for NPOs

all right this video is going to tell you two different ways to add a discount to an invoice or to a proposal or an estimate in freshbooks you will be able to add a discount via a percentage off of the total or via a fixed amount of the total after you watch this video the reason i decided to make a video about it is because i needed to take a fixed fee discount off of an invoice that i was sending and i it wasn't intuitive on how to do that so the way that the invoices are currently built is that you only have the option of a percentage so you have to hack it if you want to add a number off like 300 off so i'm going to explain to you what i learned and at the end of this video i will tell you which one of the two methods that i think is best because of the psychology that's going to happen when your customer sees your invoice or your estimate i think one method is very superior to the other i'm curious what you think and if you agree or disagree all right let's dive in [Music] so first we're going to talk about how freshbooks built it i'm press shift space i get a new voice going here in this demo company the way they built it is you have to provide a percentage discount all right first we're going to add a client this week we got scott drew baylor's men's basketball coach who i appreciate we're going to add a line awesome service let's charge a thousand dollars for this and we have an invoice and freshbooks built it to you for to have you add a discount down here at a discount we can make it a five percent discount click add discount and now our one thousand dollar total invoice has a 50 dollar discount for a 950 total that is the way this was built when you hit that hyperlink for discount you can't put a fixed fee so let's see what we would do for that because this is what i had to do because i needed to provide a fixed fee amount to for for a discount so i had to go in i had to wrestle with this for a while create an item called discount and then you press a negative sign and add it and i discounted it 50 bucks so my invoice is still 950 which is what i wanted so i'm gonna email coach scott drew for 950 bucks both ways work you can hit save and send and you will be invoicing for the amount that you want to be invoicing for with that discount included one other thing i want to mention um over here in the estimates and proposals section and if you create a new estimate or new proposal either one of these is going to look very similar you can do the same thing at the point of creating the estimate or the proposal because look this looks just like an invoice right except it just says estimate instead of invoice which will eventually turn it into an invoice if they accept it but it's built the exact same so all of this applies to estimates and proposals as well if you need a primer on the differences between estimates and proposals and when i suggest to use which one i have a video about that that goes into a lot of detail there will be a link to that video and it should be popping up right here now i told you i was going to tell you which of these two methods that i think is best but before i do that really quickly just a plug please subscribe to this channel if you have listened to this video this long you are a freshbooks user and you 100 need to be subscribed to my channel and don't hesitate to schedule a quick consultation with me sooner rather than later before your books get uh really messed up if to know if your books are messed up watch my five ways your freshbooks is wrong video that should be popping up right here and will be linked below all right so which discount method should you use i think the way that freshbooks built it to provide the discount at the end of the invoice is best from a business psychology standpoint here on the screen i'm showing an example of that so we have the one thousand dollar service and we provided a five percent discount for 9.50 you want your customer to clearly see that big fat total cost of one thousand dollars in this instance and you want the total to be displayed there so they see the value of all the services and items that you're going to provide if we had put a whole bunch of items here on this list it would all be totaled in that subtotal and you want it to be plain as day and when they are are going to see that discount they're going to think wonderful thoughts about you they're going to know what the true value was that one thousand dollars before before the discount so it's going to be very obvious total and then discount if there's a chance to get some goodwill out of the discount this is the best way to get it some examples of kinds of discounts are like military discount or police and firefighter discount another idea is maybe a discount for putting a sign in their yard if you are building them a beautiful landscape or a patio if we take a look at the other way of doing it where we are needing to put a fixed fee in there the way that i had to do it in the instance that i faced when you look down here at this bottom part you don't see the discount you don't see the total anywhere so let's say this was a more complicated invoice and there was several items here there's you know that discount is going to get masked there there's no way that the customer is going to do the math required to get to that total number if you know if there's several things being added up they might not even notice the discount at all so they're not going to have that value of what they're not going to have that number of the value that the total service and items cost so what does this mean for you that means that you are going to have to talk to your clients and customers in percentage discounts if you want the benefits of that psychology of getting a nice total with a discount applied at the very end i have told the developers at freshbooks that i wish we had the option of a fixed fee or a percentage discount at that bottom hyperlink instead of just a percentage if you think the same thing you should chime in below so they can see your feature request sometimes in the moment maybe a dollar figure is going to roll off your tongue instead of a percentage figure and whoops you're going to have you're going to be wishing that you could take it back well that's all i've got to say about discounts on invoices estimates and proposals in fresh books come back next week for another great video about freshbooks until then watch the video that should be popping up on your screen that youtube is suggesting that you watch from me it's going to help your business and your bookkeeping i'm kate josephine johnson and i help businesses build their business legacy [Music]