Scope: This document outlines the procedure that Library Technical Services receiving staff follow when processing a vendor discount for materials.
Contact: Lisa Maybury
Unit: Monographs Receiving, OKU Serials Receiving, and E-Resources & Serials Management
Date last updated: 05/03/2024
Date of next review: May 2025
One Fund Used To Pay for Discounted Items
When one fund is used to pay for a discounted item, disregard the discounted amount and pay the total amount charged for the item.
Example:
The original price of an item was $100.00 and it was discounted 10%. Pay $90.00 for the item. Do not show the discount on the on-line invoice.
Multiple Funds Used To Pay for Discounted Items
If two or more funds are used to pay for items billed on an invoice, pay for each line item individually.
To process the discount:
Under "Adjustments", click on "Add adjustment"
Fill in appropriate fields (Description; Amount; Pro rate; Relation to total; Export to accounting should be checked; Fund ID should be 518 for discounts.
Example:
There are four items listed on the invoice, cost of each is $25.00. A 10% discount is given for the entire invoice. Process the 10% discount as per example to the right.
Selector Negotiated Discounts
Exceptions to this rule apply when a selector works directly with a vendor to negotiate a discount. When this is the case, process line items with the total amount owed after the discount is taken and do not process the discount under "Adjustments".