Hello,
We use Zoho Books for all of our invoicing. We are getting ready to implement some standardized discounts in our practice for 2024. Currently, the only time we use discounts is if we are discounting a specific service due to an issue, etc. For clarification, we only offer services. We don't have stock.
In the future we want to offer discounts for specific things and show it on the invoice, so the client can see the discount.
When using the native discounts, the full price of the item shows in the sales account, and then there is a negative "Discounts" under income. This doesn't allow us to easily report on what service was discounted and for what reason. For example, we'd like to be able to create a report (it's okay if it's in Analytics), that shows the discounts summed by discount name.
My plan was to create a new Sales Account for each Discount. Then create an Item for each Discount. When we create an invoice we would add an item for the full price of the service. We'd then add whichever discounts are applicable. When the client pays the invoice the discount would show as a negative. This would allow me to see what the total discount is by type of discount on a P&L or customized report.
Is there a better way? Can you think of any potential issues?
Thanks so much!