Retail
Accruing a Vendor Volume Rebate
Recording a 'cash back' or credit note earned from a supplier for hitting a purchase target.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Accounts Payable / Receivable | Asset (+) | 500.00 | - |
| Inventory (or Cost of Goods Sold) | Asset (-) | - | 500.00 |
💡 Accountant's Note
Rebates reduce the cost of your inventory. If you've already sold the items, the rebate reduces your COGS, thereby increasing your gross profit.
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