--- title: "Using Supplier Rebates" canonical: "https://kb.myframeworks.com.au/space/PROSTIXV48DOC/31097254/Using%20Supplier%20Rebates" format: markdown --- Supplier Invoices The Invoice Posting program stores Rebate Codes and percentages which are applicable to each Invoice at the time of Posting. Invoice Maintenance The Invoice Maintenance program (From the ProStix Main Menu select 'Accounts Payable' then Transaction Processing' then 'Invoice Maintenance' displays the Rebate % applicable to the selected Invoice and to also allows access via the (Rebates) function to Modify, Add or Delete a Rebate for the currently selected Invoice. When (Rebates) is selected, a screen appears listing any Rebates already applicable to the Invoice. The (Change), (Add) and (Delete) functions are all available from this screen. Payment Selection Report The Payment Selection Report (From the ProStix Main Menu select 'Accounts Payable' then ' Transaction Processing' then 'Payment Selection') displays the amount of the Supplier Rebate applicable to a Payment. There is a column on the Report labelled 'Rebate' which includes all Rebates applicable to the Invoice. The Total at the bottom of the Report also has a column labelled 'Less Rebates' and includes the Total of all Rebates applicable to all the Invoices on the Report. Print Fax Notification The Fax Notification (From the ProStix Main Menu select 'Accounts Payable' then Transaction Processing' then 'Payment Selection') subtracts the amount of the Rebates from the Payment Amount. Payment of the Supplier Invoice When payment is performed either via Direct Credit or Cheque, the Rebate value is considered and subtracted from the Payment to the Supplier. Remittance Advice Formats 1 & 97 include a column to indicate the Rebate taken up on each Invoice. All other Formats have the rebate value subtracted from the payment total. (If you would like your Remittance Advice Format modified to display the Rebate amount please contact Sterland Computing). Payment Cancellation When a payment is cancelled the amount of the Rebate is considered and reversed from the G/L. Payment Enquiry The Payment Enquiry program (From the ProStix Main Menu select 'Accounts Payable' then 'Payment Enquiry') displays the Rebate amount applicable to a Payment. From this screen you may also select the (Rebates) screen to display the Rebate Code, Rebate % and Rebate amount applicable to the selected Invoice. Supplier Enquiry Rebates Enquiry You may select to view the Rebates currently attached to the supplier via the Supplier Enquiry menu options 'Accounts Payable' then 'Supplier Enquiry' then 'Deal Sheet'. When the 'Deal Sheet' option is selected, you are prompted to 'Press the Space Bar to view any Supplier Rebates'. When the is selected you are presented with the Supplier Rebates screen displaying any Rebates that are attached to the currently selected supplier. Transaction History Drill Down When is pressed on an Invoice within the Transaction History option, a screen displays with an additional field labelled 'Rebate'. This field displays the Rebate amount applicable to the Invoice. G/L Movement with rebates: G/L Accounts for Product Group 01 at Branch 1 Costing details of test product: ┌────────────────── Product - 1 │ Description : $100 landed │ Unit of Measure : ea │ GST Ex │ Standard Cost : 100.00 ┌───────────────── │ Standard │Last Cst 131.00 │Changed 29/05/08 │ │Gross 100.00 │Discount 0.00 │S/Tax 0.00 │Freight 0.00 │ --------- │Invoice 100.00 │Rebates 10.00 │Ext. Frt 0.00 │ --------- │Nett Cst 90.00 └────────────────── Add to PO: ┌── P/Order ───┐┌────────── Supplier ──────────┐┌───────── Deliver To ─────────┐ │Nbr 00040814 ││ACME Gunpowder Supply Inc ││Branch 1 of Database (GST Inc)│ │Date 29/05/08 ││32 Market Avenue ││202-204 The Entrance Road │ │Deliv 30/05/08││EOMUNDAI ││Erina │ ┌──────────────────────────────────────────────────────────────────────────────┐ │Product No Quantity Cost UM Description Total │ │─────────────── ───────── ────────── ── ──────────────────────── ──────────── │ │1 1 100.00 ea $100 landed 100.00 │ GL Movement at Stock Receipting ┌─────────────────────────────────────────────────────────────────────── │ Account Account Name Narrative Pd Amount Tp │────────── ────────────────── ──────────────────── ── ────────────── ── │0001500100 Stock - Homeware Stock Receipting 29/ 05 100.00 in │0001600100 Purch Clearing Stock Receipting 29/ 05 100.00 in │0001260101 Purchase Rebates Stock Receipting 29/ 05 10.00 in │0001270100 Gains/Loss - Homew Stock Receipting 29/ 05 10.00- in GL Movement at CIA where added to batch as $100 + GST ┌──────────────────────────────────────────────────────────────────────────┐ │ Account Account Name Narrative Pd Amount Tp │ │────────── ────────────────── ──────────────────── ── ────────────── ── │ │0001600100 Purch Clearing ACME Gunpowder Suppl 03 100.00 ci │ │0009610000 Trade Creditors Creditor Invoices Ba 03 110.00- ci │ │0009613000 GST Purchases Creditor Invoices Ba 03 10.00 ci │ When payment processed: ┌──────────────────────────────────────────────────────────────────────── │ Account Account Name Narrative Pd Amount Tp │────────── ────────────────── ──────────────────── ── ────────────── ── │0009610000 Trade Creditors Direct Credits - Bat 03 110.00 cc │0009520000 Bank account 1 Direct Credits - Bat 03 110.00- cc When the rebate cheque is received, it would be processed as a Sundry payment to the Purchases Rebates G/L Account, that is, 1260101. If not received, the value in this G/L account would offset the Purchase Gain. Capturing the difference between COGS at partially and fully rebated prices: This is to ensure that Profit & Loss reports distributed to branches show the same fully rebated Cost of Sales that the sales reports display. Setup: Terminology: Stock Receipting The postings to the general ledger at stock receipting are determined by the presence of the new G/L accounts. If the Deferred Rebate Income account or the Rebate Debtors account is not defined then no postings occur. The supplier rebate debtor account takes precedence over the company rebate debtor account. The G/L movements for each product receipted to stock is: No further postings to the rebate accounts occur when the creditors invoice is processed through creditors invoice approval. Sale of Stock The postings to the general ledger at sale time is determined by the presence of the new G/L accounts. If the Deferred Rebate Income account or the Rebate Income account is not defined then no postings occur. The sales invoice update program posts the following G/L movements for each product sold: Where a special buy-in sales order is linked to a purchase order: