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There are current options to hide the discount values in the form designer at line level TRANS->DSCAMT=0 and on a custom total =TOTAL1 with the format string ###,###,##0.00;;
There are no options to hide the free text discount label header at either line or total level based on whether the custom total (total discount) is zero as the DSCAMT field is not populated in NOMLEDG and =TOTAL1 is not a stored field. It would be useful to have a way to hide the labels based on a condition in the same way we can hide the values.