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May 28, 2011 at 10:39 AM

Rebate GL Entries


Dear All,

Required feedback from Gurus on the GL entries.

Create a rebate agreement and when saving invoice system book the provision and post the following entry.

Rebate Expense Dr. $100

Rebate Payable Cr. $100

When at the end of the month user wants to post the credit memo by partial settlement, lets assume that he is posting accural of $70. The following entry is generated at the time of the posting.

Customer Cr. $70

Rebate Payable Dr. $70

Rebate Expense Dr. $70

Rebate Expense Cr. $70

Now If I want to run the final settlement I required that system only post the entry what left in the agreement.

Customer Cr. $30

Rebate Payable Dr. $30 but system cant post the required entry, and post the following entry that is not correct

Customer Dr $ 70

Rebate payable Cr $70

Looking forward for the gurus response.