Automatic Rebate Settlements
The automatic settlement covers both auto claims and auto disbursements. To automatically process a claim or disbursement, make sure you check the Auto Claim or Auto Disburse box on the rebate agreement.
Settlement Frequency
The Auto Settlement script runs daily and checks for available rebates to settle for active, on hold, and expired rebate agreements. The script generates a settlement if the day falls on the scheduled settlement day.
The processing takes few minutes to a few hours depending on the amount of data, and the settlement is reflected the next day.
The following settlement frequencies describe the scope for accruing rebates and the timing of the rebate settlement:
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Monthly |
The auto settlement script runs on the first day of the following month, and processes rebate transactions accrued within the following period: |
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Quarterly |
The auto settlement script runs on the first day of the next quarter, processes rebate transactions accrued within the following period:
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Twice a Year |
The auto settlement script runs on the first day of the first quarter and the first day of the third quarter. The script processes rebate transactions accrued within the following period:
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Annually |
The auto settlement script runs on the first day of the next accounting year, and processes rebate transactions accrued within the following period:
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Settlements do not generate automatically if the accounting period calendar is not defined. The system generates an error if it cannot find the proper month or quarter in the accounting period to post transactions, accruals, or settlements.