Setting up rebate types
Setting up a rebate type lets you organize the rebates that your company uses on a contract.
To set up rebate types
- Access Setup > Rebate Types.
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From the Actions menu, select Create.
Use the following guidelines to enter field values.
- Contract Group
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Required. Select a contract group to assign to the rebate type.
- Rebate Type
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Required. Type a name for the rebate type that you are creating. For example, Supplies.
- Description
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Required. Type a description for the rebate type. For example, if the rebate is based on the dollar amount of supplies purchased, the description can be stated:
3% based on total dollar volume of supplies purchased.
Note:The description only appears on Create Contract Rebate Type.
- Growth Rebate
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A growth rebate is based on incremental purchases over the prior period of purchases. For example, if the growth in purchases is greater than 5% but less than 6% versus the prior period, the rebate paid is 5%.
If the growth in purchases is greater than 6% but less than 7% versus the prior period, the rebate paid is 6%.
If the growth in purchases is greater than 7% but less than 8% versus the prior period, the rebate paid is 7%.
Note:You can select Growth Rebate or Fixed Rebate Amount, but not both.
- Fixed Rebate Amount
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Select this checkbox to create a rebate type with a fixed amount taken off purchases, regardless of how much money is spent.
- Status
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Indicate whether the rebate type is active.
- Click Save.