The Rebate Check option is used along with the Rebate Tracking feature. This option is only enabled and available when Rebate Tracking has been enabled from the Purchase Orders tab of the Parameters form (Main Menu > Maintenance > Database > Parameters). Ledger entries for rebate checks are based on the method of payment (debit) and the Rebate Receivables (credit) account mapped in the Receiving journal. The balance of the "Rebate Receivables" account represents the total anticipated rebate from prior inventory receipts that involved rebates. This balance is reduced by rebate payments or vendor credits.

Description

Enter a description for the rebate check.

Amount Received

Enter the amount of the payment.

Vendor

Select or enter the vendor who issued the payment.

Rebates

Use the maintenance form icon to allocate the vendor's check to various rebates associated with the vendor. Doing so involves entering the dollar amount to be applied as well as selecting the appropriate period for the monthly or quarterly rebate. Monthly periods are listed in YYYY-MM format and quarterly periods are listed in YYYY-Q format. The period determines whether the payment is listed in the Rebate Inquiry form after date selection.