Rebates

Automatically Handle Vendor Rebates

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Prophet 21 simplifies the task of handling vendor rebates by completely automating the process. Each step, from negotiation to receipt and beyond, is recorded in real time and reflected in your solution's General Ledger and price schedules. This way, you never lose track of the $2,000 rebate you earned for selling a certain vendor's item to a certain customer - and sales and order entry staff always see proper gross margins, and offer customers appropriate pricing.

Capabilities:
  • Enables distributors to automatically manage vendor rebates through the Prophet 21 solution
Benefits:
  • Reduces errors
  • Reduces labor costs
  • Improves cash flow
  • More accurate and efficient than handling rebates manually

Easy Rebate-Based Pricing

Distributors often receive vendor rebates on a line item basis, and give customers special prices based on those rebates. Prophet 21 always remembers the right cost for every customer, every contract, and every line item, and that cost appears on the Order Entry screen - if the user is allowed to see cost. With this functionality, your customers always get the right product for the right price, and you can view correct gross margin in real time.

For example, an electrical manufacturer might give a restaurant chain special pricing on lamps and fixtures - and the cost and extended price of those items could be lower than a distributor's cost. Prophet 21 automatically updates the cost of goods sold when you enter the pricing information with the customer's contract. At the same time, an entry is made in the rebate report, so you will be sure to collect that rebate from your vendor.

Advanced Rebate Reports

Prophet 21 offers your accounting staff the ability to produce rebate reports that provide the accurate, concise information you need to send to vendors to claim your rebates. Information available on the reports varies from company ID to SKU, to the specific invoice number against which rebates should be applied.

You also have the flexibility to determine how to read and print rebate reports. You may sort the information by vendor or customer - and filter data by several criteria, including items, contract numbers, invoice numbers, and rebate locations.

And since rebates are automatically updated and instantly reflected in your General Ledger and rebate journals, you never have to wait for the end of the month to send rebate claims to your vendors, which improves your cash flow.

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