What is discounts givenCOS? its showing as negative. How to enter payments on instalment basis. I would like to enter every payment being deducted from the total amount.

I have discounted packages paid on instalment basis. Each time customer comes and pays a portion of the total amount I am using discounts given - COS. Is that correct? In the report the amounts under this category is showing as negative. What is the right way of entering installment payments? I would like to see all the payments for that particular installment amount when I filter it so I could see the remaining balance.


Hi ronmsalvado,

You need to select the correct account associated with your discount item so it won't show a negative amount. Let me guide you how to categorize an account for your discount.

  1. Click the Gear Icon.
  2. Select Chart of Accounts.
  3. Click New.
  4. Select the Account Type and Detail Type.
  5. Type Discount as the name of the Account.
  6. Click Save and Close.

Also, I recommend reaching out to your accountant to check what account type to use when creating a discount. Here's an article in case you want to categorize your bank transactions: Match And Categorise Your Downloaded Bank Transactions.

Keep in touch if you have other questions. I'll be here to help.

Was this answer helpful? Yes No
IntuitMariaS , Community Support Specialist
Employee SuperUser

No answers have been posted

More Actions

People come to QuickBooks Learn & Support for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach:

Qb community
Looking for advice from other business owners?

Visit our QuickBooks Community site.