DealTrack Blog — Rebate Accounting

Rebate management jargon buster: An A-Z of helpful definitions and terminology

Posted by Oisin Cooke on October 16, 2019 08:57:39

If you’ve ever been confused about terminology relating to rebate management, you’re not alone! The world of rebates is a complicated place at the best of times, especially when there can be multiple different names for the same thing.

Continue reading

Topics: Rebate Management, Contract Management, Rebate Accounting, Rebate Management System, Special Price Agreements SPAs, Customer Rebate Management

Excel errors: why spreadsheets are so dangerous for rebate accounting

Posted by Andrew Butt on April 30, 2019 02:04:44

Finance and accounting departments tend to rely on Excel spreadsheets to manage a growing business’s financial data because they know it, they understand it and old habits die hard. But human entry error is always a risk which we saw a few years ago when news about Excel miscalculations at JP Morgan rocked spreadsheet users’ worlds. A simple cut and paste excel error cost JP Morgan $6 billion and resulted in dramatic headlines like “Why Excel is the Most Dangerous Software in the World”, but it wasn’t the first time spreadsheets had caused massive business disruption, nor will it be the last.

Continue reading

Topics: Rebate Accounting

Buyers’ guide to rebate program management systems

Posted by Andrew Butt on October 29, 2018 16:01:21

Whilst many core business systems have some functionality to help monitor trading agreements that involve vendor rebates, most have neither the flexibility nor the extensive range of functionality that is needed to support the increasingly complex world of rebate management.

For many, that lack of functionality has resulted in missed rebates and poor accrual accounting.

But worse than that, if your business systems don’t support rebate management fully, then the whole purpose behind creating deals involving rebates – a means to influence business growth – is missed.

Continue reading

Topics: Rebate Management, Rebate Accounting, Rebate Management System

Making every penny count: suppliers to the building industry

Posted by Andrew Butt on September 20, 2018 14:26:19

If you’re a builders merchant you’ll know how essential it is to ensure every penny counts in terms of your bottom line. So, it’s even more crucial than ever that you don’t miss out on any of the, often significant, sums due to you through rebates.

Continue reading

Topics: Rebate Management, Rebate Accounting, Industry Sector: Building Materials, Rebate Management System

Rebate accounting: 10 reasons why rebates are not always claimed

Posted by Andrew Butt on September 6, 2018 10:42:00

Failing to claim 100% of rebate due can have a large negative impact on the bottom line for businesses in industries where rebate agreements are commonplace.  Finding out why that happens and how to stop missing vendor rebate claims is at the forefront of the minds of rebate accountants and financial leads the world over.

Continue reading

Topics: Rebate Management, Rebate Accounting, Rebate Management System

Why your ERP system doesn't cope with rebate accounting

Posted by Andrew Butt on June 18, 2018 10:16:59

Firstly, if you’re reading this blog you will most likely to be familiar with what an ERP system (enterprise resource planning) is, but as a reminder it is a type of software that manages and integrates a company’s financials, supply chain, operations, reporting, manufacturing, and human resource activities into one system. Examples of ERP systems include NetSuite, Oracle, SAP, SAGE plus many more.

Continue reading

Topics: Rebate Accounting, ERP Vendor Rebate Modules, vendor rebates, ERP System

Take control of your rebate debtors

Posted by Andrew Butt on May 23, 2018 09:15:00

In our experience, many businesses that receive rebate revenue from suppliers, don't have the means to be able to check that it is correct. They are completely reliant on suppliers to accurately calculate and make the payments.

Continue reading

Topics: Rebate Management, Rebate Accounting, Rebate Management System, Rebates

Spring 2018 webinar series: profitable growth from rebate management

Posted by Andrew Butt on February 14, 2018 11:34:06

For spring / early summer we have a series of three webinars planned to share more detail about our 3 step approach to profitable growth through:

  1. Mastering rebate accounting and maximising profit from rebate deals;

  2. Being prepared for and executing on smarter supplier negotiations;

  3. Collaborating with suppliers for mutually profitable growth.

Continue reading

Topics: Rebate Management, Procurement Excellence, Rebate Management & Compliance, Rebate Accounting, Industry Sector: Building Materials, Industry Sector: Wholesale Distribution, Rebate Management & Growth, Industry Sector: Retail, Industry Sector: Buying Groups, Rebate Management System

129 million reasons to address the symptoms of poor rebate accounting

Posted by Andrew Butt on March 28, 2017 12:36:29

Today it was announced that Tesco has agreed to a £129m fine to avoid prosecution by the FCA for overstating its profits in 2014. The root of the problem is believed to be premature recognition of rebate income from suppliers.

Continue reading

Topics: Rebate Accounting

6 ways to improve your rebate accounting processes

Posted by Andrew Butt on March 22, 2017 08:30:00

The complexities involved in managing complex trade agreements and rebate accounting and retrospective discount payments are often difficult to model in manual systems such as spreadsheets and basic accounting software. Organisations opting to calculate, forecast and accrue rebate income in this way leave themselves at risk of inaccuracies, missed opportunities and supplier disputes.

Continue reading

Topics: Rebate Management, Rebate Accounting