Add a Rebate account to your chart of accounts to save time and ensure consistent data entry. Select the Lists menu and choose Chart of Accounts.. Click the Account button at the bottom of the window and choose New to open the New Account window. Select Income as the account type.Assign a name, such as Rebates, and an account number. Click OK to save the new account.reate a new item to describe the rebate. Select the Lists menu and choose Items.. Click the New button near the bottom of the window to open the New Item window. Choose Other Charge in the Type drop-down list. Enter a name and description for the rebate.