Allow TaxDisc on Invoices & Receipts

Specify whether to allow tax discounts (i.e. whether tax liability will be based on amounts received, rather than amounts billed).

Check this box to allow tax discounts when posting invoices and receipts. If you allow discounts on invoices and receipts and this option is checked, a tax discount will be calculated when entering invoices, based on the line's tax rate and payment discount. For example, a $100 invoice with $5 tax (5%) and a discount of $3 (3%) would have a tax discount of $.15 (5% x $3). If you allow discounts on receipts only, tax discounts will not be calculated during invoice entry, but can be taken when posting cash receipts.

Leave this box unchecked if you do not use tax discounts.