Rebates
A rebate is money that is reimbursed after payments are made for goods or services. When creating a rebate, you can define the rebate type, the rebate percent, and how frequently you apply for a rebate. After this information is defined, you can create a set of qualifiers that must be met to receive the rebate.
A rebate can be manually added to a contract, or added through the interview process if a question's response type is set to Rebate. After a rebate is added, it can be applied to an entire contract, to specific items, or to a category of items within a contract.
A rebate can also be linked to a parent contract where all attached contracts qualify for the rebate. Rebate information can be defined, tracked, and used for reporting, for example, when invoices are processed in Payables.
Rebate types
A rebate type is used to categorize your rebates. When you create a rebate type, you can define a contract group and add a description for the rebate type. After you add the rebate type, multiple rebates can be assigned to it. For example, you can create a rebate type of supplies that contains supply-related rebates. You can create another rebate type for administration that contains administration-related rebates.
Rebate categories
You can have multiple rebates on a contract of the same rebate category. For example, an administration rebate, a supplier rebate, and a single-percentage item rebate on the same contract can exist in the Standard rebate category. Rebate categories are used as methods to structure and define rebate qualification.
- Standard Rebate
- Growth Rebate
- Loyalty Rebate
- Fixed Rebate Amount
- Multiple Threshold Rebate: Rebate percentages and amounts are earned based on qualification.
- Supplemental Rebate: Two rebates share the same qualification contracts, items, and codes, but have varying levels of qualification and earned rebate percentages or amounts. The two rebates are associated.
Assigning rebates to contracts
When you assign a rebate to a contract, you can receive money back after making payments for goods and services. When you assign a rebate, you can define the percent of the rebate and the frequency with which it is applied.
After you define the rebate, you create a set of qualifiers that must be met to receive the rebate. When you create a qualifier, you must define the purchase type. Purchase types are total or targeted. In addition, you decide what the rebate is based on: the purchase percent or purchase amount, or for targeted purchases, a date range within which the purchases must be made.
You identify rebate payment information and update rebate due dates. When updating a due date, you specify the expected rebate amount for a date and track the received amounts against the remaining amounts.
Before you assign a rebate to a contract, the contract must have an expiration date.