The following describes the accounting transactions the system creates when you claim a SMS rebate payer for SMS rebates using claim method P (A/P rebate claim). During this claim process bookkeeping transactions are generated and (if Financials is installed) automatically transferred to Financials.
It is possible, for rebate claims with Claim method = P, to specify on which level the transactions should be summarised before the transactions are transferred to A/P.
A/P summary level:
1=Per Rebate claim
2=Per Rebate claim / agreement
In this example we have first invoiced a sales order with SMS rebates that we then claim from our SMS rebate payer using claim method P (A/P rebate claim).
Prerequisites
| Original sales order | |
| Invoiced qty item | 12 |
| Sales price item | 200.00 |
| Cost price item | 50.00 |
| VAT item | 17.5% |
| No discounts | |
| No fees | |
| Fixed SMS rebate item | 10.00 |
| Claim method | P |
Created transactions
The following transactions are created during invoicing:
| Transaction type | Description | Amount Debit |
Amount Credit |
Calculation/Result/Additional info | |
|---|---|---|---|---|---|
| 820 | Stock value Gross VAT | 2400.00 |
|
||
| 960 | VAT output of order lines | 420.00 |
|
||
| 800 | Cost of goods sold | 600.00 |
|
||
| 901 | Stock value | 600.00 |
|
||
| 647 | SMS A/P claim | 120.00 |
This is the SMS rebate to be claimed from the SMS rebate payer. |
||
| 639 | SMS COGS adj. Sales | 120.00 |
This is the SMS cost of goods sold adjustment due to this SMS rebate for the item. |
||
| A/R | To be accounted on Account Receivable | 2820.00 |
Bookkeeping transactions created during claim, credit A/P:
| Transaction type | Description | Amount Debit |
Amount Credit |
Calculation/Result/Additional info | |
|---|---|---|---|---|---|
| 647 | SMS A/P claim | 120.00 |
This is the SMS rebate that is claimed from the SMS rebate payer. |
||
| 638 | SMS A/P claim VAT | 21.00 |
This is the VAT amount for the SMS A/P claim. |
||
| A/P | To be accounted on Account Payable | 141.00 |