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Quantum VS Help: File Maintenance |
To understand how Quantum VS updates rebate values once a Supplier Rebate record is in place, consider the following examples.
Note: For further details see Supplier Rebate Maintenance.
Assume that initially the cost of a single unit of Product X is £100, with no stock and no Supplier Rebate records in place. We will also assume that, on the Supplier Rebate record, we have chosen the option that stock costs will be updated at goods receipt (although potentially the stock cost may additionally or alternatively be updated at Purchase Invoice Registration; there is also the option not to update the stock cost):
On 01/01: A GRN (1) for a single unit of Product X is Completed, for goods value £100. The total stock cost is now £100.
On 02/01: A Supplier Rebate record is created for Product X, giving a 5% rebate with the Supplier we are dealing with, from 03/01 onwards.
On 03/01: A GRN (2) for a single unit of Product X is Completed. As a 5% rebate applies at 'goods in', the GRN line is updated with the original goods value (£100), the rebate percentage (5%) and the 'claimable' rebate value (£5). The Supplier Rebate record is updated with the £100 purchase value and £5 'claimable' rebate value. The stock cost for this line is £95. The total stock cost is now £195.
Potentially, at Purchase Invoice Registration the system can update the stock cost and rebate total when the received Purchase Invoice reflects a change in the buying cost, as in the following example:
On 04/01: In respect of the two Purchase Orders and GRNs above, we receive two Purchase Invoices from the Supplier: each are for a single unit of Product X, except the cost has increased from £100 to £110. In the case of GRN (1), this simply updates the total stock cost from £100 to £110. For GRN (2), 5% of the extra cost is applicable as a rebate, so this Purchase Invoice Registration updates the stock cost from £100 to £109.50 (an increase of £10 less 5% = £9.50). The new 'claimable' rebate value is £5.50, which is updated on the GRN line. The Supplier Rebate record is updated with the new £110 purchase value and £5.50 'claimable' rebate value. The total stock cost is now £214.50.
Supplier Rebate records can also be amended when agreements are renegotiated, as in the following example:
On 06/01: The Supplier Rebate record is amended to show that the 5% rebate for Product X has been uplifted to 6% from that day onwards.
On 07/01: A GRN (3) for a single unit of Product X is Completed, for goods value £110. As a 6% rebate now applies at 'goods in', the GRN line is updated with the original goods value (£110), the rebate percentage (6%) and the 'claimable' rebate value (£6.60). The Supplier Rebate record is updated with the £110 purchase value and £6.60 'claimable' rebate value, giving running totals of £220 (product cost) and £12.10 ('claimable' rebate). The stock cost for this line is £103.40. The total stock cost is now £317.90.
Remember that at this point the monetary rebate has not been claimed from the Supplier. You may choose when to do this, subject to the running totals displayed in the Supplier Rebate record and whether or not the target rebate value or quantity has been reached.
Note: There is currently no facility in Quantum VS to update rebate totals when a monetary rebate has been claimed from a Supplier. The ability to view the 'claimable' rebate value on the GRN line and on the Purchase Invoice Registration document will be added in a future release.