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Discount invoice for Supervision

thank you for watching this video this tutorial video is brought to you by new q.com new q.com your on stop QuickBooks online loarn and share blog we also offer paid QuickBook Consulting just click the this Consulting link and register to get an appointment for our paid service so in this video I'm going to focus on how can I assign a class to an invoice discount discount is showing at unclassified okay so let's see what we're talking here all right you have your invoice here uh like this one and here's the uh discount field and here's discount amount and when you create something like this this amount it will S as unclassified or not specify it won't apply it against the uh this class in here so invoice to the class product sales and you want apply against product sales class it will just show as unclassified or not specified so how to fix that one so there's no way to do it in QuickBooks online right now so this one it goes to non- classify as you saw it so instead of using this fi uh if you want to use discount it's better to use this uh as a line item in here as line item in here so you need to create discount as separate item and in here let's say you want to give a uh $50 discount and use the product sales as your class in here like this like this that's what you have to do all right the invoice is still the same as you can see here I want to go back and delete this one and use this Fiel one more time it says $50 the invoice amount is uh $220 as you can see here this one is taxable $250 and it computes tax line in here that's $20 and then below that it discount field there so there is no taxable credit on the discount field so you have to remember that one first okay uh so what we're going to do is I'm going to make this is this comes from the settings so I'm going to uh later on we have to uh not to use this field for for now I'm just going to use this uh this discount field and make this $50 as a negative and make sure this one you make it non-t taxable that's how you have to set it up I'll show you in a minute and use the same class so you still get the same number and so this one you're not going to use it so this the total fi is still the same total amount is still the same and so you can put any anywhere you want it 20% discount or whatever it is so and then if you have uh more items let's say this one is for one class and if you have uh another items for another sales then you can always uh create a sub toal in here add sub toal see you can get the sub total right here get the sub total and if you add another one you can do the same thing in here the sub total is pretty important here so it will tell you you know here's your uh gross amount and then discount that give you the sub total I'm going to save this all right I'm going to go to that report again one more time I'm going to refresh this as you can see here it used to be one unclassified not specified thing here now it's showing under uh product self this is your class in here so this is how you want to do it now let's go back to uh item setup to see how it's done so here's a discount one so this is for the product sales and if you have uh uh you know a bunch of other items you know product sales or different classes then you have to set up uh discount for each one of those all right right here as you can see here this one is you don't want to set up as inventory so you want to set up as just the regular uh non-inventory type uh discount and in here the most important one is here don't check this is taxable box and here's your income account it will tell you where you want to subtract or so as your uh discount uh new in your income statement so this is non- taxable the reason is let's think about it let's say you go to Costco and they have a TV and they're going to give you $100 discount let's say the price is $500 and when you look at your invoice they will charge your sales tax on that $500 and then subtract $100 so it works the same way on this case too okay so this is how you have to do it just save it and close it that's it that's how to fix it all right subscribe to our YouTube channels is VB controller we have two channels BB controller and new Qbo like us on Facebook and visit our website new.com you can just book mark it