Setting Rebate Preferences
You can create only one rebate preferences record per payment type.
To set the rebate preferences:
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Go to Rebate Management > Preferences > Preferences > New.
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Select or enter the required information in the fields described in the following table.
Field Group
Description
Payment Type
This field is required.
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Paying- Choose Paying if you are paying rebates.
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Receiving- Choose Receiving if you are receiving rebates.
Transaction Type
Sale- Sales transactions include sales orders, invoices, returns, and cash sales. This transaction type is selected by default.
Customers
The values displayed on the lists are sourced from the customer record.
Customer Inclusions- Select a maximum of five customer attributes. The system sources the customer attributes from the inclusion criteria you selected in the agreement details.
Customer Exclusions- (Optional) Select a maximum of two customer attributes. The system sources the customer attributes from the exclusion criteria you selected in the agreement details.
You can also create a List/Record type custom field to have additional options for customer criteria selection. See Creating a Custom Field.
The custom field you add appears on the Agreement Details subtab of a rebate agreement.
Note:The custom field does not display if you deactivate, edit the agreement details, then reactivate the field later. You must edit the Agreement Details record only after reactivating the custom field then save the changes.
Items
The values displayed on the lists are sourced from the item record.
Item Inclusions- Select a maximum of five item attributes. The system sources the item attributes from the inclusion criteria you selected in the agreement details.
Item Exclusions- (Optional) Select a maximum of two item attributes. The system sources the item attributes from the inclusion criteria you selected in the agreement details.
Similar to the customer custom field, you can also create an List/Record type custom field for items to have additional options for item criteria selection. See Creating a Custom Field.
Note:To include a particular subsidiary and exclude another subsidiary from the same parent company, you must select the Subsidiary or Primary Subsidiary in both the inclusions and exclusions list.
Accounting
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When receiving rebates, select an account for the accrual expense and the accrual receivable accounts:
You must not use an A/P control account or an A/R control account when posting accruals.
Accrual Expense (Credit) Account - The accrual expense account shows the expenses incurred that have not been billed to the payer.
When you accrue the rebate amount, this account is credited. When you reverse the journal entry, this account is debited.
Accrual Receivable (Debit) Account - The accrual receivable account shows the amount of revenue earned that has not been received.
When you accrue the rebate amount, this account is debited. When you reverse the journal entry, this account is credited.
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When paying rebates, select an account for the accrual payable and accrual expense accounts:
Accrual Payable (Credit) Account- The accrual payable account shows the amount that must be paid off for bills and invoices that have been received.
When you accrue the rebate amount, this account is credited. When you reverse the journal entry, this account is debited.
Accrual Expense (Debit) Account - The accrual expense account shows the expenses incurred for which bills and invoices have not been received.
When you accrue the rebate amount, this account is debited. When you reverse the journal entry, this account is credited.
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Click Save to finish setting the rebate preferences.