In the food and beverage industry, it is quite common for suppliers and customers to negotiate price agreements. For example, discounts or rebates that are given if a certain quantity is bought within an agreed period. Companies need to record these price agreements with suppliers and customers, and to track any accrued rebates due to them. Accrual is particularly important when large volumes are involved.
SI Foodware – Rebates simplifies the entry of price agreements, and provides real-time insight in the rebates accrued by your own organisation. As rebates are immediately taken into account in the general ledger entries or journal posting, you can make the appropriate reservations for settlements with your suppliers and customers. In this way, you can continually generate accurate income statements.