Field Definitions: Plan Setup (04-32-01)

This number uniquely identifies the instant rebate plan and is auto-generated by the system. Additionally, the Plan ID is used as the Invoice Number in Accounts Receivable.

Enter a description for this instant rebate plan.

Enter the number of groups for this plan.

With groups, you have two options:

• You can set up a single group that contains one or more items. As long as the instant rebate plan is active and the quantity being sold on the transaction is the same as the quantity set up on the instant rebate plan for the item, these items qualify for the rebated price.
• You can set up multiple groups that each contain one or more items. With this option, a customer must purchase at least one item in each group to qualify for the instant rebate. Additionally, the quantity ordered must match the quantity set up for the item on the instant rebate plan. When setting up multiple groups, each group usually contains similar items. For example, one of the groups could be HDTVs and another group could be Blu-Ray players.

Enter or select from the calendar the date that the instant rebate begins. Only purchases made on or after this date are eligible for the rebate.

Enter or select from the calendar the date that the instant rebate ends. Only purchases made on or before this date are eligible for the rebate.

Enter the Accounts Receivable account to which the vendor reimbursements for the rebate are applied.

Enter the Vendor that is offering the instant rebate.

Enter the percentage of the rebate that the vendor will reimburse your company for (i.e. If the vendor is reimbursing you for 65% of the rebate, enter “65.00” in this field).

The amount entered here is multiplied by the rebate amount to arrive at the Vendor Price Rebate and the Unit Cost Rebate, which pre-prompt in those respective fields when adding a new item to the plan.

For example, if the Rebate is $39.99 and the Vendor reimbursement is 65%, $25.99 will appear in the ‘Vendor Price Rebate’ field and the ‘Unit Cost Rebate’ field. These amounts can be modified if necessary.

Enter the number of days between each vendor billing for the rebate.

Enter the number of days after the rebate end date (specified in the ‘Ends’ field) that vendor will received the final bill.

Enter the payment terms for the vendor reimbursement.

The last day that the vendor was billed appears in this field automatically.

Enter the item number eligible for the instant rebate.

The price from Field 18 of Inventory Master Inq/Maint (03-01) for the item appears in this field and cannot be changed.

Enter the instant rebate amount for the item. For example, if the rebate is $20.00, enter “20.00” in this field.

When you enter an amount in the Rebate field, that amount is subtracted from the Normal Selling Price to arrive at the amount that appears in this field. This amount can be changed for fixed pricing (see the Fixed Price field definition below for additional information).

The price from Field 17 of Inventory Master Inq/Maint for the item appears in this field and cannot be changed.

This is the Gross Margin percentage calculated by the system using the Normal Selling Price.

This is the current Vendor Price for the item (taken from Field 13 of Inventory Master Inq/Maint.)

This is the amount of reimbursement that your company receives from the vendor. It is calculated using the following formula:

(Selling Price Rebate x Vendor Reimbursement %)

For example, if the Selling Price Rebate for the item is $50.00 and the Vendor reimbursement is 65%, the Vendor Rebate amount would be $32.50.

You can change the amount if necessary.

This is the current Unit Cost for the item (taken from Field 14 of Inventory Master Inq/Maint.)

This is the amount that the Unit Cost of the item is reduced, based on the rebate. It is calculated using the same formula as the ‘Vendor Price Rebate’ field and can be changed if necessary.

This is the new Unit Cost based on the rebate amount. It is calculated by subtracting the Rebate Unit Cost from the Rebate Unit Cost and cannot be changed.