diff --git a/erpnext/accounts/doctype/payment_entry/payment_entry.py b/erpnext/accounts/doctype/payment_entry/payment_entry.py
index 973df73a13e..c0d53b52dde 100644
--- a/erpnext/accounts/doctype/payment_entry/payment_entry.py
+++ b/erpnext/accounts/doctype/payment_entry/payment_entry.py
@@ -1223,7 +1223,7 @@ def get_payment_entry(dt, dn, party_amount=None, bank_account=None, bank_amount=
 			pe.set_gain_or_loss(account_details={
 				'account': frappe.get_cached_value('Company', pe.company, "default_discount_account"),
 				'cost_center': pe.cost_center or frappe.get_cached_value('Company', pe.company, "cost_center"),
-				'amount': discount_amount * -1 if payment_type == "Pay" else 1
+				'amount': discount_amount * (-1 if payment_type == "Pay" else 1)
 			})
 			pe.set_difference_amount()
 
diff --git a/erpnext/accounts/doctype/payment_entry/test_payment_entry.py b/erpnext/accounts/doctype/payment_entry/test_payment_entry.py
index 772fc1a2521..4641d6b5ffa 100644
--- a/erpnext/accounts/doctype/payment_entry/test_payment_entry.py
+++ b/erpnext/accounts/doctype/payment_entry/test_payment_entry.py
@@ -193,6 +193,34 @@ class TestPaymentEntry(unittest.TestCase):
 		self.assertEqual(si.payment_schedule[0].paid_amount, 200.0)
 		self.assertEqual(si.payment_schedule[1].paid_amount, 36.0)
 
+	def test_payment_entry_against_payment_terms_with_discount(self):
+		si = create_sales_invoice(do_not_save=1, qty=1, rate=200)
+		create_payment_terms_template_with_discount()
+		si.payment_terms_template = 'Test Discount Template'
+
+		frappe.db.set_value('Company', si.company, 'default_discount_account', 'Write Off - _TC')
+
+		si.append('taxes', {
+			"charge_type": "On Net Total",
+			"account_head": "_Test Account Service Tax - _TC",
+			"cost_center": "_Test Cost Center - _TC",
+			"description": "Service Tax",
+			"rate": 18
+		})
+		si.save()
+
+		si.submit()
+
+		pe = get_payment_entry("Sales Invoice", si.name, bank_account="_Test Cash - _TC")
+		pe.submit()
+		si.load_from_db()
+
+		self.assertEqual(pe.references[0].payment_term, '30 Credit Days with 10% Discount')
+		self.assertEqual(si.payment_schedule[0].payment_amount, 236.0)
+		self.assertEqual(si.payment_schedule[0].paid_amount, 212.40)
+		self.assertEqual(si.payment_schedule[0].outstanding, 0)
+		self.assertEqual(si.payment_schedule[0].discounted_amount, 23.6)
+
 
 	def test_payment_against_purchase_invoice_to_check_status(self):
 		pi = make_purchase_invoice(supplier="_Test Supplier USD", debit_to="_Test Payable USD - _TC",
@@ -591,6 +619,26 @@ def create_payment_terms_template():
 			}]
 		}).insert()
 
+def create_payment_terms_template_with_discount():
+
+	create_payment_term('30 Credit Days with 10% Discount')
+
+	if not frappe.db.exists('Payment Terms Template', 'Test Discount Template'):
+		payment_term_template = frappe.get_doc({
+			'doctype': 'Payment Terms Template',
+			'template_name': 'Test Discount Template',
+			'allocate_payment_based_on_payment_terms': 1,
+			'terms': [{
+				'doctype': 'Payment Terms Template Detail',
+				'payment_term': '30 Credit Days with 10% Discount',
+				'invoice_portion': 100,
+				'credit_days_based_on': 'Day(s) after invoice date',
+				'credit_days': 2,
+				'discount': 10,
+				'discount_validity_based_on': 'Day(s) after invoice date',
+				'discount_validity': 1
+			}]
+		}).insert()
 
 def create_payment_term(name):
 	if not frappe.db.exists('Payment Term', name):
diff --git a/erpnext/accounts/doctype/payment_terms_template_detail/payment_terms_template_detail.json b/erpnext/accounts/doctype/payment_terms_template_detail/payment_terms_template_detail.json
index daf4c98b9d3..20b3dca6aae 100644
--- a/erpnext/accounts/doctype/payment_terms_template_detail/payment_terms_template_detail.json
+++ b/erpnext/accounts/doctype/payment_terms_template_detail/payment_terms_template_detail.json
@@ -52,6 +52,7 @@
   {
    "columns": 2,
    "fetch_from": "payment_term.due_date_based_on",
+   "fetch_if_empty": 1,
    "fieldname": "due_date_based_on",
    "fieldtype": "Select",
    "in_list_view": 1,
@@ -100,6 +101,7 @@
   {
    "default": "Percentage",
    "fetch_from": "payment_term.discount_type",
+   "fetch_if_empty": 1,
    "fieldname": "discount_type",
    "fieldtype": "Select",
    "label": "Discount Type",
@@ -107,6 +109,7 @@
   },
   {
    "fetch_from": "payment_term.discount",
+   "fetch_if_empty": 1,
    "fieldname": "discount",
    "fieldtype": "Float",
    "label": "Discount"
@@ -119,6 +122,7 @@
    "default": "Day(s) after invoice date",
    "depends_on": "discount",
    "fetch_from": "payment_term.discount_validity_based_on",
+   "fetch_if_empty": 1,
    "fieldname": "discount_validity_based_on",
    "fieldtype": "Select",
    "label": "Discount Validity Based On",
@@ -133,6 +137,7 @@
   {
    "depends_on": "discount",
    "fetch_from": "payment_term.discount_validity",
+   "fetch_if_empty": 1,
    "fieldname": "discount_validity",
    "fieldtype": "Int",
    "label": "Discount Validity",
@@ -146,7 +151,7 @@
  "index_web_pages_for_search": 1,
  "istable": 1,
  "links": [],
- "modified": "2021-02-24 11:32:39.134870",
+ "modified": "2021-02-24 11:56:12.410807",
  "modified_by": "Administrator",
  "module": "Accounts",
  "name": "Payment Terms Template Detail",