Page Comparison

A supplier rebate can be received in the form of two things:

1. Supplier Refund either via a cheque or direct deposit into your bank account
   OR
2. Supplier Credit Note Note only

Handling of a Supplier Refund if you receive a form of Money - 2 Methods:

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Firstly you need to account for the Rebate and secondly the actual Refund of Money Received
If the supplier is set up as a card then follow the steps below:

1.  Log onto readysell
2. Select Relationships
3. Select Supplier Transactions
4. Select Supplier Credit
5. Click on New
6. Enter the date that the deposit was made onto the bank statement onto the supplier credit
7. Select the Supplier Card
8. Enter into the description field something like 'Supplier Rebate Received'
9. On the line level select the General Ledger Account to stand for the Supplier Rebate Received
10. Either leave the default descrption of change it
11. Enter either the Value Inc or Value Ex and the tax code = INP
12. Check the header value lines up to the value of the deposit.
13. Click on Finalise 
    
    

Now to account for either the Deposit received or cheque received onto the supplier account.

1. Log onto readysell

2. Select Relationships

3. Select Supplier Transactions

4. Select Supplier Payments

5. Click on New

6. Enter the date that the deposit was made onto the bank statement onto the supplier payment

7. Select the Supplier Card

8. Enter into the description field a reference off the 'supplier rebate received' and maybe the cheque no

9. Into the Payment Reference field, enter something off the Bank Statement or the cheque number

10. Enter the value in BACKWARDS with a MINUS Sign in front of it EG $-110 (as the supplier if depositing money into your account)

11. Click on Finalise and Allocate

12. Allocate the backwards supplier payment against the orgiinal supplier credit. Finalise and allocate button

     

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Entering a bank Payment backwards to stand for the supplier rebate received

1. Log onto readysell

2. Select Financials

3. Select Cashbook

4. Select Bank Payments

5. Click on New

6. Enter the date that the deposit appears on the bank statement 

7. Select the correct tender
8. Select the bank account that the deposit is being made into 

9. Enter into the description field a reference off the 'supplier rebate received' and or if you have a maybe the cheque no

10. Into the Payment Reference field, enter something off the Bank Statement or if a cheque was received the cheque number

11. On the level level , select the General Ledger account for 'Supplier Rebate Received' and Enter the value in BACKWARDS with a MINUS Sign in front of it EG $-100 (as the supplier is depositing money into your account)

12. Click on Finalise.

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