In NetSuite, Discount Items are used to apply discounts to sales transactions like quotes, sales orders, or invoices. These items can be set up to offer either a fixed amount or a percentage off the total or line item prices. To create a discount item, go to Lists > Accounting > Items > New, and select Discount as the item type. You can then define the discount rate (e.g., 10%) and choose whether the discount applies to individual items or the entire transaction.
Discount items help businesses standardize pricing strategies, manage promotional offers, and ensure accurate financial reporting. They can also be linked to specific revenue accounts to track discount expenses separately. When used in transactions, NetSuite automatically calculates and applies the discount based on the item’s settings, reducing manual work and errors. Discount items are especially useful in customer-specific pricing, loyalty programs, and seasonal promotions.