Early pay discounts are a proven way to encourage customers to pay for their purchases more quickly. If you need to improve your cash flow and increase your working capital, these discounts provide meaningful incentives for faster payment – and InTempo's accounting module makes it easier than ever to apply them.
Our rental software lets you use any discount and due date. Choose a common discount structure, such as 1%/10 Net 30 or 2%/10 Net 30, or create different combinations based on the unique needs of your business.
InTempo also lets you negotiate custom pricing arrangements for each of your customers; there’s no need to apply the same discount to every customer in your system. For instance: you can offer a larger discount to customers who routinely pay their invoices late, while maintaining standard terms for the customers who you can already count on to pay right away.
Once a discount has been applied and the invoice has been paid, you’ll be able to see the corresponding discount in your General Ledger.
It’s a simple way for you to get paid sooner, reduce your risk of late payment, and strengthen your relationship with your customers. And now, it’s simpler than ever to set up. Your Accounts Receivable team can get started right away, and apply the discounts as part of their established invoicing workflow.
To learn more about using early pay discounts for your rental business, contact us today.