Bill.com does not currently support discounted payment terms. However, there are a couple of best practices in the Bill.com workflow which will allow you to take advantage of vendor discounts.
What does your workflow look like?
- If you enter bills and then pay them:
- When you enter the bill, record the bill amount for the net amount after the discount.
- Recognize the discount taken as a negative line item at the bill.
- If you enter the bill, and someone else pays it later:
- When you enter the bill, add a note alerting the payer about the discount terms.
- At the time of paying, the payer (who must have "Manage Bills" permissions, in this case, decides if the bill is eligible for the discount, and edits the bill accordingly.
- If you need to track discount amounts in a separate GL account:
- Edit the total amount.
- Add a line item posting to the appropriate account, and enter the discount as a negative amount.