Rebate Management System

The Rebate Management System allows you to adjust the rebates that are recorded during invoice creation, and to bill the adjusted rebate amounts to your vendors.  The Rebate Management System is currently an optional system that is not included in the main StreamV application.  Later releases of the system will include the Rebate programs and data file in the standard application.

The Rebate Management System consists of the following programs.

Rebate Loader The Rebate Loader program loads the Rebate file based on the invoice line item detail for a specific invoice date range.  As the loader runs, it calculates the rebate amount recorded in each line item and it creates a record in the rebate file for each invoice line with a rebate amount.  The Rebate Loader program processes only sales invoices (shippers or loaners are not processed).  The Rebate records that are created by the Rebate Loader program are assigned a source of SP (sales posting) and a status of O (open).

Rebate Management The Rebate Management program is used to edit the rebate amounts in the Rebate records that were created by the Rebate Loader .  The Rebate Managemant program also allows you to add additonal rebate records to the Rebate file.  The Rebate Management program does not allow you to delete rebate records as the rebate records created by the loader are used to calculate any adjustments to the original amounts recorded in each invoice. 

Rebate Billing Processor The Rebate Billing processor is a report that is used to bill your vendors for the rebate amounts that are due to your company.  The program allows you to select open rebate records for a specific vendor, and it creates an accounts payable invoice for the rebates that are being claimed from the vendor. 

When the Billing Processor is activated, it searches through the selected rebate records and it compares the amount in each rebate record to the total rebate recorded in each associated invoice line item (if the rebate is tied to a specific invoice line).  The total of the rebate amount in the rebate records is used to determine the amount to be billed to the vendor.  The total amount of the rebates recorded in the associated invoice line items is used to reduce the rebates receivable account (this is the same account the rebate amounts were posted to during sales posting), and the difference (the total being billed less the amount originally recorded for each line) is booked to a Rebates Revenue account.

Posting Rebates to A/P: Once the Rebate records have been adjusted and the Billing Processor is activated, the system creates an accounts payable invoice for the selected vendor.

The journal entry that is used to post the vendor invoice is based on the following information.

AP (normally a debit) the total of the rebates being billed posted to the AP Autopost Account Specified in the Vendor record (or autopost 310 if no autopost is specified in the vendor record).

Rebates Receivable (normally a credit) the total amount of rebates recorded in the invoice line items pointed to by the rebate records (this is the amount posted to rebates receivable by the sales posting program).  The Rebates Receivable Account has an autopost number of 320.

Rebates Revenue (normally a credit) the difference between the amount billed to the vendor and the rebates receivable that were recorded when the associated invoice lines were posted.  Any rebates recognized after the sale has been booked are posted to a revenue account (rebates recorded when the item is sold are posted to a receivable account and they reduce cost of sales).  The Rebates Revenue Account has a GL Autopost number of 650.

The journal entry made by the Billing Processor is assigned a source of AP and it is posted to the current system period and year.