Deltek Vantagepoint Help

Using the Help Search

Discount Tab

Use this tab to set up discount codes and their general ledger accounts for Accounts Payable vouchers for a project/phase/task. In the Firms hub, you select a discount code for a vendor and set up discount terms (a discount percentage and the tie period to which it applies).

Global Discounts Options section

Discount Grid

Field	Description
Code	Enter a code to identify this discount code. For example, you can define the normal discount offered by your enterprise as Standard.
Description	Enter a description for the discount code. The description is used in place of the code on accounts payable reports. If you use organizations, you may want to include the name of the organization.
Project	Enter the project that will receive the discounted credit amount when you post payments in Accounts Payable Payment Processing. When you reference an income statement account, you must specify a project number. This project is usually an overhead project.
Phase	Enter the phase (if any) that will receive the credit amount when posting payments in Accounts Payable Payment Processing.
Task	Enter the task (if any) that will receive the credit amount when posting payments in Accounts Payable Payment Processing.
Account	Enter or select the account to which the discount amount is credited. You can only specify a balance sheet, indirect expense, or other revenue and expense account in this field. The account that you enter cannot be specified as an automatic posting account in Settings > Accounting > Posting Accounts. You may want to create an indirect account (700.00-799.99 in the standard chart of accounts) in which to track discount amounts, such as 793.00 - Discounts Taken.
Apply Taxes	If you want the discount applied to taxes included on a voucher, select this check box. With this check box selected, if a vendor has a discount code and a tax code set up in the Firms hub, when you post a check for a voucher with taxes applied, the discount is also applied to the tax amount (if the payment falls within the discount period).

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Discount Tab

Use this tab to set up discount codes and their general ledger accounts for Accounts Payable vouchers for a project/phase/task. In the Firms hub, you select a discount code for a vendor and set up discount terms (a discount percentage and the tie period to which it applies).

Global Discounts Options section

Discount Grid

Field	Description
Code	Enter a code to identify this discount code. For example, you can define the normal discount offered by your enterprise as Standard.
Description	Enter a description for the discount code. The description is used in place of the code on accounts payable reports. If you use organizations, you may want to include the name of the organization.
Project	Enter the project that will receive the discounted credit amount when you post payments in Accounts Payable Payment Processing. When you reference an income statement account, you must specify a project number. This project is usually an overhead project.
Phase	Enter the phase (if any) that will receive the credit amount when posting payments in Accounts Payable Payment Processing.
Task	Enter the task (if any) that will receive the credit amount when posting payments in Accounts Payable Payment Processing.
Account	Enter or select the account to which the discount amount is credited. You can only specify a balance sheet, indirect expense, or other revenue and expense account in this field. The account that you enter cannot be specified as an automatic posting account in Settings > Accounting > Posting Accounts. You may want to create an indirect account (700.00-799.99 in the standard chart of accounts) in which to track discount amounts, such as 793.00 - Discounts Taken.
Apply Taxes	If you want the discount applied to taxes included on a voucher, select this check box. With this check box selected, if a vendor has a discount code and a tax code set up in the Firms hub, when you post a check for a voucher with taxes applied, the discount is also applied to the tax amount (if the payment falls within the discount period).