Managing Discounts for Client/Trust Accounting Customers

  • Updated

For our Asia-Pacific customers, the term "Trust Account" is used, while European customers refer to it as "Client Account". It's important to mention that the Client/Trust Accounting functionality does not apply to customers in North America. For further information on regional terms, check out our Glossary of Regional Terminology.

This article is designed to help you understand how to apply discounts in your Client/Trust Account. It is important to note that discounts are a feature exclusively available to our customers using Client/Trust accounting. By following along, you'll learn how to handle discounts effectively, post-migration from negative lines, and how to set up fee rules involving these discounts. Additionally, we will guide you on how to reflect the discounts in your reports.

How to Use Discounts

Applying discounts in place of what previously might have been entered as negative invoice lines is now a streamlined process. To help you get started, please watch the instructional video below:


Reporting on Discounts

After you have successfully added discounts to your invoice templates, these adjustments can be recorded and analyzed when Reporting on Discounts at Property/Tenancy Level. This tool allows you to generate detailed reports that include the annual discounts applied, ensuring accurate financial representation.

Note: On a Tenancy's Rent template, the auto-calculated Annual Rent amount can be overridden so that you can report on the pre-discounted amount.

Fees Associated with Discounts

If negative lines have been transitioned to discounts, it’s vital to examine your property fee rules related to transactions. There is a recently introduced setting for money in/out fee rules that enables you to determine if fees should be considered based on the original amount before the discount is applied.

Here’s how to adjust this setting:

  1. Go to the Settings for property fees
  2. Locate the fee rule for money coming in/out of an account.
  3. Toggle the new setting to your preference, choosing between pre-discount and post-discount amounts (as highlighted in the screenshot below).

Copy of HelpCentre_Desktop Landscape_Static .png

By understanding and adjusting these settings, you can maintain control over how fees are calculated in relation to discounts given, ensuring compliance with your financial policies.

Was this article helpful?