Overview

Discount is a type of financial record representing a deduction of sale price on invoice. Discount can be applied either at invoice level, e.g. $10 coupon after spending $200, or at individual line-item level, e.g. 10% off on a shirt. Alternative names for Discount is coupon, promotion code, etc.

For invoice level discount, Leapfin creates a separate Discount record. For line-item level discounts, Leapfin recommends saving the discount information as parts of Line Item record.

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Discount vs Credit

Discount and Credit are similar in that they both reduce the amount of invoice. Sometime teams refer to those terms interchangeably without consistent definitions.

On Leapfin Platform, discount and credit are distinguished by whether its financial impact should be tracked independently of the invoices. If yes, then we consider it a Credit, otherwise a Discount.

For example, merchant offers $10 off for customer to use in future invoice.

• If merchant considers this $10 as money owned to customer, then Leapfin will create a Credit.
• If merchant considers this $10 has no value until it is applied to an invoice, then Leapfin will create a Discount.

Creating a Discount

The following fields are required :

• objectType: type of financial record. For Discount, the value is "discount".
• id: unique identifier of this record. This is an external id received by Leapfin.
• amount: amount of the discount. The amount should be non-negative.
• currencyCode: 3-digit ISO code, e.g. “USD”, representing the primary currency.
• date: the date-time of when this discount is created in billing system.

The following fields are optional but are commonly needed for creating journal entries.

• description: a general description of the discount
• startDate: for discounts related to a subscription period, this is the start date-time of the period.
• endDate: for discounts related to a subscription period, this is the end date-time of the period.
• exchangeRates: a list of exchange rates used to calculate currency conversions
  • currencyCode: 3-digit ISO code, e.g. “USD”, "GBP", etc. This is the target currency of this record
  • rate: conversion rate from primary currency to target currency. i.e. amount in primary currency * rate = converted amount in target currency.
• links: directional relationships pointing from this record to other financial records. Discount is commonly linked to Invoice or Line Item
  • objectType: type of the target financial record, e.g. "invoice"
  • id: the unique identifier of the target financial record
• customFields: additional fields (i.e. key-value pairs) related to this record

Sample Data

{
    "objectType": "discount",
    "id": "discount_001",
    "amount": 13.09,
    "currencyCode": "USD",
    "description": "a sample discount",
    "date": "2021-01-16T11:28:31",
    "startDate": "2021-01-20T00:00:00",
    "endDate": "2022-01-19T00:00:00",
    "exchangeRates": [
      {
        "currencyCode": "EUR",
        "rate": 0.84
      },
      {
        "currencyCode": "GBP",
        "rate": 0.73
      }
    ],
    "links": [
      {
        "objectType": "invoice",
        "id": "invoice_001"
      }
    ],
    "customFields": {
      "field1": "value1",
      "field2": "value2"
    }
}

Query a Discount

Discount records are stored in VW_FT_DISCOUNT table. It can be accessed via Snowflake Data Sharing and Access.