A discount is when you make a deduction from the usual cost of a product/service. When you offer discounts to your customers, it is essential you record them on your Oze Business App using the discount feature.
Why is it important to record discounts?
A discount is a marketing expense! If you aren’t recording the discounts you give, you won’t have an accurate picture of your total expenses or the profit margins you make on your products.
On the other hand, you can also record discounts given to you by your vendors when recording your expenses.
Recording a discount on your Oze Business App:
- From your Oze Business App, click on or long-press the '+' plus button.
- Select the type of transaction you want to record (i.e An expense or a sale).
- Once you’re on the New Transaction screen, enter all necessary information.
- Under the ' Payment and Delivery' section, you will see a toggle button that lets you indicate if you gave or got a discount.
- Click on it to activate the discount section.
- If you gave/received the discount per unit, enter the amount of discount per unit you gave.
- If you gave a percentage discount, click on the USE % button. Then, enter the percentage discount you gave.
- Enter the percentage discount you gave (i.e. 10%).
- The discount in figures will automatically be calculated for you and reflected in the 'Total Remaining' balance.
Click on the 'SAVE' button to record the transaction