Step 1: Create a Chart of Account

To create a chart of account for rebates:

1. Create a chart of account.
   • Use an account number in the 6400 range since a rebate COA is an expense.
   • Name the account Rebates.
   • Choose Account Type Expense.
2. Click Save.

   The system saves your chart of account for rebates.

Step 2: Add Rebate Transaction

To add the rebate transaction:

1. From the left navigation panel, click Banking.
2. On the Banks screen, double-click the credit card bank.
3. From the toolbar atop the Transaction screen, click Add > Add Payment.

   The Add Payment screen opens.

4. In the Amount field, enter the rebate amount.
5. The Type auto-populates with Payment, from the Method drop-down, select the payment method.
6. In the Payor field, enter the entity from which you received the rebate.
7. In the Accounts section, from the Account field's drop-down, click Rebate (created in step 1).
8. In the upper right corner, click Save.

   A warning message reads: You are allocating outgoing funds to an account which is normally used for incoming funds. Do you want to continue?

9. Click Yes.

   The system saves the rebate transaction.