Answer
Nov 10, 2016 - 06:21 AM
When designating a discount in your LEDES 1998B formatted invoice, the discount amount should be entered as an invoice-level adjustment to fees or expenses (whichever is appropriate), as indicated by the following excerpt from the LEDES 1998B specification:
Invoice-level adjustments must be entered as a line item with the EXP/FEE/INV_ADJ_TYPE indicating either an invoice-level adjustment to fees ("IF") or an invoice-level adjustment to expenses ("IE") and the value for the adjustment entered in the LINE_ITEM_ADJUSTMENT_AMOUNT field. Thus, an invoice-level adjustment of -$4000 on fees (i.e., an invoice-level discount on fees) would have the following field values (among others):
EXP/FEE/INV_ADJ_TYPE - "IF"
LINE_ITEM_ADJUSTMENT_AMOUNT - "-4000"
LINE_ITEM_TOTAL - "-4000"
In addition, the line-item narrative should include a description of the discount.
Invoice-level adjustments must be entered as a line item with the EXP/FEE/INV_ADJ_TYPE indicating either an invoice-level adjustment to fees ("IF") or an invoice-level adjustment to expenses ("IE") and the value for the adjustment entered in the LINE_ITEM_ADJUSTMENT_AMOUNT field. Thus, an invoice-level adjustment of -$4000 on fees (i.e., an invoice-level discount on fees) would have the following field values (among others):
EXP/FEE/INV_ADJ_TYPE - "IF"
LINE_ITEM_ADJUSTMENT_AMOUNT - "-4000"
LINE_ITEM_TOTAL - "-4000"
In addition, the line-item narrative should include a description of the discount.
