Rebate: Rebate programs use sales transactions to account for and store the details of an expense that will be paid to a vendor or credited to a customer in the future. The expense and accrual entries are included with the Sales transaction's Journal Entry and the details are added to the Rebate Balance sub-ledger. When Rebate programs are 'Settled', AP Invoices or AR Credit Memos are created to debit the accrual account and credit the Vendor's Accounts Payable or Customer's Accounts Receivable account. This moves the sub-leger balance from the Rebate to the Vendor/Customer. Open Rebates balances can also be applied to open sales transactions when applying payment receipts.
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