Automatic Rebate Settlements
The automatic settlement covers both auto claims and auto disbursements. To automatically process a claim or disbursement, make sure you check the Auto Claim or Auto Disburse box on the rebate agreement.
Settlement Frequency
The Auto Settlement script runs daily and checks for available rebates to settle for active, on hold, and expired rebate agreements. The script generates a settlement if the day falls on the scheduled settlement day.
The processing takes few minutes to a few hours depending on the amount of data, and the settlement is reflected the next day.
The following settlement frequencies describe the scope for accruing rebates and the timing of the rebate settlement:
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Weekly |
The auto-settlement script runs on the selected day of the week and processes rebate transactions accrued within a week's period. For example, the settlement day is Wednesday. All transactions are accrued from 00:59 of Wednesday of the current week, until 00:59 of Wednesday of the following week. |
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Monthly |
The auto settlement script runs on the first day of the current month and processes rebate transactions accrued after 00:59 of the first day of the previous month until 00:59 of the first day of the current month. |
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Quarterly |
The auto-settlement script runs on the first day of the current quarter and processes transactions accrued after 00:59 of first day of the previous quarter until 00:59 of the first day of the current quarter. |
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Twice a Year |
The auto settlement script runs on the first day of the first quarter and the first day of the third quarter. The script processes rebate transactions accrued within the following period:
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Annually |
The auto settlement script runs on the first day of the next accounting year and processes rebate transactions accrued within the following period:
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Settlements do not generate automatically if the accounting period calendar is not defined. The system generates an error if it cannot find the proper month or quarter in the accounting period to post transactions, accruals, or settlements.