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Vendor purchase rebate

How do I record a vendor purchase rebates? I'm sent mail rebates for prior purchases but when I use the rebate to purchase new job materials how do I record it so that the amount spent in my expenses matches the amount in my bank feed.
Ex. I have a rebate for $58.31 total sale is $643.37 after rebate total is $585.06
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Best answer February 12, 2018

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Content Leader

Vendor purchase rebate

Hello Chris12,

 

Thanks for joining us here in the Community. I'm glad to lend a hand with recording vendor purchase rebates.

 

There are a couple of ways to get this done. My recommendation is to create what is known as a Vendor Credit in QuickBooks Online. Here's a great article that explains exactly how this can be done: https://community.intuit.com/articles/1145200-how-do-i-handle-vendor-credits-and-refunds.

 

Another option is to create a service item in Products and Services labeled "Rebate." Here's how:

 

1. Click the Gear icon in the top right corner.

2. Select Products and Services.

3. Choose the New button in the top right corner.

4. Click Service.

5. Name it Rebate and fill in the other information.

6. Select Save and close.

 

This information will get you back on track. Please don't hesitate to reach back out to me if you need anything else.

View solution in original post

1 Comment
Highlighted
Content Leader

Vendor purchase rebate

Hello Chris12,

 

Thanks for joining us here in the Community. I'm glad to lend a hand with recording vendor purchase rebates.

 

There are a couple of ways to get this done. My recommendation is to create what is known as a Vendor Credit in QuickBooks Online. Here's a great article that explains exactly how this can be done: https://community.intuit.com/articles/1145200-how-do-i-handle-vendor-credits-and-refunds.

 

Another option is to create a service item in Products and Services labeled "Rebate." Here's how:

 

1. Click the Gear icon in the top right corner.

2. Select Products and Services.

3. Choose the New button in the top right corner.

4. Click Service.

5. Name it Rebate and fill in the other information.

6. Select Save and close.

 

This information will get you back on track. Please don't hesitate to reach back out to me if you need anything else.

View solution in original post

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