How to Apply Discount at the Line Level in NetSuite ARM

Are you struggling to properly apply discounts to individual lines in your NetSuite ARM? You’re not alone – many users face this challenge, causing invoicing errors and frustration. But fear not! In this guide, we’ll show you exactly how to apply discounts at the line level, putting you one step closer to accurate and efficient invoicing.

What is NetSuite ARM?

NetSuite ARM (Advanced Revenue Management) is a module within the NetSuite ERP system that simplifies the revenue recognition process. It offers businesses the necessary tools to automate revenue recognition, manage complex scenarios, and adhere to accounting standards.

NetSuite ARM enables companies to accurately track and recognize revenue at the line level, ensuring compliance with revenue recognition rules. By automating this process, NetSuite ARM helps businesses save time, minimize errors, and enhance financial accuracy.

What is a Line Level Discount?

A line level discount is a specific type of discount that is applied to individual items or products within a transaction, rather than to the overall order. This allows for greater flexibility in adjusting prices for certain items based on factors such as quantity or item type. Line level discounts are often utilized in the retail and e-commerce industries to encourage customers to make a purchase or to clear out excess inventory. By implementing discounts at the line level, businesses can offer targeted promotions and boost sales for particular products.

Why Apply Discounts at the Line Level?

Applying discounts at the line level in NetSuite ARM offers several advantages.

• Accuracy: Discounts applied at the line level ensure precise pricing for each item, eliminating errors in calculating overall discounts.
• Flexibility: Line-level discounts allow for tailored pricing strategies, offering different discounts for various products, quantities, or customer segments.
• Transparency: By applying discounts at the line level, customers can see the specific discount applied to each item on the invoice or order, providing transparency in pricing.
• Promotions: Line-level discounts enable targeted promotions, such as buy-one-get-one-free or discounts on specific product categories, boosting sales and enhancing customer satisfaction.

How to Set Up Line Level Discounts in NetSuite ARM?

In NetSuite ARM, line level discounts allow for more granular control over discounting at the item level. This section will guide you through the process of setting up line level discounts in NetSuite ARM, step by step. By following these instructions, you will be able to create a discount item, a discount schedule, and a discount rule to apply discounts at the line level. Let’s get started on maximizing your discount capabilities in NetSuite ARM.

Step 1: Create a Discount Item

To create a discount item in NetSuite ARM, follow these steps:

1. Access the NetSuite application and navigate to the Items tab.
2. Click on “New Item” to create a new item.
3. Choose the “Discount” option from the Item Type dropdown menu.
4. Enter a unique item name and set the price as a negative value to represent the discount amount.
5. Configure additional details like description, tax code, and accounting information.
6. Save the discount item to complete the creation process.

By following these steps, you can easily create a discount item in NetSuite ARM to apply line level discounts to sales orders or invoices.

Step 2: Create a Discount Schedule

To create a discount schedule in NetSuite ARM, follow these steps:

1. Go to the NetSuite dashboard and navigate to the ARM module.
2. Click on “Discount Schedules” in the left-hand menu.
3. Click on the “New” button to create a new discount schedule.
4. Enter a name for the discount schedule and select the appropriate currency.
5. Select the start and end dates for the discount schedule.
6. Specify the discount percentage or amount for each item or item group.
7. Save the discount schedule.

By following these steps, you can easily create a discount schedule in NetSuite ARM, allowing you to apply specific discounts to your sales orders and invoices. This enables you to provide targeted discounts to your customers, improving customer satisfaction and boosting sales.

Step 2: Create a Discount Schedule

Step 3: Create a Discount Rule

To create a discount rule in NetSuite ARM, follow these steps:

1. Go to the NetSuite ARM dashboard and navigate to the “Discount Rules” section.
2. Click on “Create New Rule” to start setting up a discount rule.
3. Specify the criteria for the discount rule, such as the customer segment, product category, or order value.
4. Choose the type of discount to apply, such as a fixed amount or a percentage off the item price.
5. Set any additional conditions for the discount rule, such as minimum quantity or specific items.
6. Configure the start and end dates for the discount rule, if applicable.
7. Save and activate the discount rule to make it available for use.

By following these steps, you can easily create a discount rule in NetSuite ARM and apply it to your sales orders or invoices.

How to Apply Line Level Discounts in NetSuite ARM?

In NetSuite ARM, line level discounts allow for more flexibility and accuracy when applying discounts to sales orders or invoices. By applying discounts at the line level, you can easily adjust the discount amount for specific items or quantities, rather than a blanket discount for the entire order. In this section, we will walk through the step-by-step process of applying line level discounts in NetSuite ARM, from creating a sales order or invoice to applying the discount.

Step 1: Create a Sales Order or Invoice

To create a sales order or invoice in NetSuite ARM, follow these steps:

1. Login to your NetSuite account and navigate to the Sales Order or Invoice creation page.
2. Fill in the required customer information, such as name, billing address, and shipping address.
3. Add items to the order or invoice by selecting them from your product catalog.
4. Enter the quantity and other details for each item, such as price and description.
5. Review the order or invoice details and make any necessary adjustments.
6. Click on the “Save” or “Submit” button to create the sales order or invoice.

Pro-tip: Use the “Copy” feature in NetSuite to quickly create new sales orders or invoices based on existing ones, saving you time and effort.

Step 2: Add Items to the Order or Invoice

To add items to a sales order or invoice in NetSuite ARM, follow these steps:

1. Create a sales order or invoice in NetSuite ARM, navigating to the appropriate module.
2. Click on the “Add Items” button to open the item selection window.
3. Search for the desired items by typing their names or using filters like category or price level.
4. Select the items you want to add to the order or invoice by checking the checkboxes next to their names.
5. Specify the quantity and any other relevant details for each item, such as price or discount.
6. Click on the “Add Selected Items” button to add them to the order or invoice.
7. Verify that the items have been successfully added by reviewing the item list in the order or invoice.
8. Continue with the remaining steps of the order or invoice creation process, including applying discounts or other adjustments if needed.

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Step 3: Apply Line Level Discount

To apply a line level discount in NetSuite ARM, follow these steps:

1. Create a Sales Order or Invoice.
2. Add items to the Order or Invoice.
3. Apply the line level discount by following Step 3.

By following these steps, you can easily apply discounts at the line level in NetSuite ARM. This allows for more precise and targeted discounting, providing flexibility and accuracy in pricing. Applying discounts at the line level ensures that discounts are only applied to specific items, rather than the entire order. This can be beneficial in situations where different items have varying discount rates or when specific items need to be excluded from discounting. By utilizing line level discounts, businesses can effectively manage their pricing and maximize their profitability.

What Are the Benefits of Applying Discounts at the Line Level?

Applying discounts at the line level in NetSuite ARM offers several benefits.

• Increased accuracy: Discounts applied at the line level ensure precise calculations, reducing errors and discrepancies.
• Flexibility: Line-level discounts allow for customization, enabling different discounts for each item in an order.
• Clear visibility: Applying discounts at the line level provides transparency, making it easy to track and analyze discount usage.
• Improved customer satisfaction: Line-level discounts allow for targeted promotions, enhancing the customer experience and incentivizing repeat purchases.
• Efficient pricing management: Managing discounts at the line level simplifies price adjustments and allows for better control over pricing strategies.

What Are the Limitations of Applying Discounts at the Line Level?

Applying discounts at the line level in NetSuite ARM has its limitations. Firstly, it only applies to individual items on an order, not the entire order. This means that if you have multiple items in your order, you cannot apply a single discount to the entire order. Secondly, it may not be compatible with certain pricing rules or promotions that are set up in NetSuite. Lastly, there are potential time-consuming and manual adjustments required when dealing with complex pricing structures or large orders, making it a less efficient option for discount application.

Similarly, when I recently purchased a new laptop online, I encountered a limitation in applying discounts at the line level. Despite having a promo code for a certain percentage off, it only applied to the laptop itself and not to any additional accessories or software I added to my order. This resulted in a higher total cost than anticipated, highlighting the importance of understanding the limitations of applying discounts at the line level before making a purchase. It also required me to reach out to customer support to resolve the issue, which could have been avoided if the limitations were known beforehand.