How to Record a Rebate on Tracepos

This guide explains how to record a rebate received from your supplier on Tracepos. Follow the steps below carefully.

Step 1: Create Payment Method for Rebate

1. Go to Settings > Payment Methods.
2. Click on New Payment Method.
3. Enter the payment method name (e.g. Rebate Payment).
4. Select Cash Account as the payment type.
5. Link the payment method to your Rebate Payment Account.
6. Click Save.

Step 2: Post Journal Entry for Rebate

1. Go to Accounting > Journal Entries.
2. Click on New Journal Entry.
3. Under Entry Account, select the rebate payment account you created earlier.
4. Enter the amount of the rebate.
5. Under Corresponding Account, select Rebate Income.
6. Add any description or reference for the rebate.
7. Click Save and then Post.

Step 3: Record the Purchase

1. Go to Purchases > New Purchase.
2. Select the Supplier (The supplier should be the manufacturer offering the rebate).
3. Enter the items you received.
4. Enter the purchase price and quantity.
5. Click Save.

If you're not sure how to record purchases, check our User Guide on How to Record Purchases on Tracepos.

Step 4: Make Payment for the Purchase

1. Go to Purchases and open the purchase you recorded.
2. Click on Make Payment.
3. Select the Rebate Payment Method created earlier.
4. Enter the amount of the rebate.
5. Click Confirm Payment.

Important Note:

• The rebate payment account must always be a Cash Account.
• This process will help you track rebates separately from normal payments.

If you need more help, reach out to our support team.