How would I do a Supplier Rebate?

[M1EnterpriseTech]

How would I be able to enter a Supplier rebate in the system?

1st Option: GL Adjustment

1) Add/Create a rebate income ledger account.

2) Go to General Ledger module from the home ribbon

3) Click New Transaction on the ribbon

4) Select the Transaction Date

5) Add Line from the ribbon : First line-Credit the Rebate ledger account for the amount of the rebate $1.00
Off setting entry would be the Bank Account or the Cash Drawer if you received a check ($1.00)

Second Option: negative credit adjustment on the Supplier's A/P account

1) Go to Accounting module on the home ribbon

2) Bring up Supplier's Payable account

3) Select Adjustment from the ribbon- enter an negative amount for the rebate
Note: Remember to zero out the tax amount as not to affect the total.