How Do I Get an Early Pay Discount?

Have excess cash? Generate risk free returns and improve your supplier relationships. 

'Discounting'  refers to paying an invoice early for a small percentage discount.

With Discount Strategies you can advertise your willingness to pay early by creating a preferred discount table and tailoring terms.

To get started offering early payments set up a Discount Strategy by following the steps below:

  1. Select your Company Name
  2. Select Discount Strategies


On Discount Strategies you will see:

  • Tables (option to set defaults and add more tables) 
  • Vendor List
  1. To set terms and turn on a table choose 'Standard Discount' table to edit (will be marked as default) 


2. Select Edit to create the terms you wishVPX_Customer_3.jpg

    • First Discount Table (Chose a strategy name) 
      • Choose preferred Target Return
        • Select a Rate per terms (Ex. A rate of 3% for 30 days would decrease as the due date approaches, as exemplified in the graph)
      • Set Blackout Window (day after which you no longer want to offer a discount)
      • Set Minimum Return
      • Save

After you have created a Strategy, assign vendors to that group.



4. When a customer has requested early payment, you can view the bills and discounts here. 


5. Check the bills you want to pay early, and choose 'Pay & Save' 


6. Once selected, you will be directed to the payment queue, to complete the payment.


7. Review all information before submitting payment


For vendor instructions on requesting early payment click here.


Was this article helpful?
0 out of 0 found this helpful
Powered by Zendesk