Def - Control Account - Rebates

The Rebates control account stores summary balances of open (accrued but unpaid) Rebate Programs. When sales transactions, that include a Rebate Program are posted, the rebate payable (liability) is posted to the Rebate Control Account and the details are written to the Rebate Balances sub-ledger in the Sales Programs functional area. When a Rebate Program Settlement is posted, the rebate payable balance moves to either an accounts payable or accounts receivable balance and the details in the rebate balances sub-ledger are moved to either the Vendor or Customer sub-ledger (depending on whether the Rebate Program's Payee is a customer or vendor).