End of year rebate/discount/refund

English translation: EOY rebate/discount/refund

17:24 Feb 19, 2019

English language (monolingual) [Non-PRO]
Bus/Financial - Business/Commerce (general) / EDI - e-accounting

English term or phrase: End of year rebate/discount/refund

A document that I'm currently translating from French uses the abbreviation "RFA" rather a lot; it stands for Remise de Fin d'Année, or "end-of-year discount/rebate/refund".
My question is simply whether in English we have a similar widely used abbreviation for this concept? I've tried googling EYD and EYR but I'm not getting a lot of results. I'd prefer some guidance from someone who actually knows about current business practices in English-speaking countries. Is there a commonly used equivalent for this in English ?

neilmac KudoZ activity Questions: 1872 (2 open) (106 closed without grading) Answers: 6249 Spain
Local time: 02:59

Selected answer:EOY rebate/discount/refund

Explanation:
https://financial-dictionary.thefreedictionary.com/EOY

I think we use far fewer abbreviations in English but, since EOB etc. is fairly ubiquitous, you could use EOY plus the noun you want to use discount etc.

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Note added at 31 mins (2019-02-19 17:56:13 GMT)
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once explained, of course!

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Note added at 3 hrs (2019-02-19 21:08:55 GMT)
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Neil no, not that I know of, but EOY already exists as I've shown with link. As for noun, you have the full context so can decide whether this is a refund, discount or rebate.

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Note added at 16 hrs (2019-02-20 10:20:47 GMT)
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Yes, a bit surprised as I didn't know that meaning but it's there in 2nd place with wiki https://en.wiktionary.org/wiki/EOB

However, I think context makes it fairly clear. And almost all my clients (including non-natives) know what it means and use it regularly when discussing deadlines.

I think once it's spelled out the first time, there's no problem using such an abbrev. and I think is certainly preferable to writing it out in full each time if there are lots of repetitions. But it's your call.

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Note added at 8 days (2019-02-27 19:27:56 GMT) Post-grading
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Glad to have helped

Selected response from:

Yvonne Gallagher
Ireland
Local time: 01:59

Grading comment

I think in the end I just used "Discount (year-end)"…… Thanks again to everyone for the help and comments.
4 KudoZ points were awarded for this answer

SUMMARY OF ALL EXPLANATIONS PROVIDED

EOY rebate/discount/refund

Yvonne Gallagher

Discussion entries: 8

neilmac

Spain

ASKER

"EOY discount"

09:51 Feb 20, 2019

gets 1,320 results; "YED" is a bit of a non-starter for me.

AllegroTrans

United Kingdom

Asker

20:46 Feb 19, 2019

I know Google isn't the definitive solution to everything but how, comparitively, do "EOY discount" and "YED" score ghits?

Björn Vrooman

18:50 Feb 19, 2019

I do agree with Charles. At least, in the US, a rebate or refund is what you get back, like a tax rebate/refund. Seems to be the same in the UK:
https://www.quickrebates.co.uk/tax-rebates/

A (tax) discount or tax relief is subtracted before anything happens. E.g.:
http://www.doncaster.gov.uk/services/council-tax-benefits/co...

https://www.warrington.gov.uk/info/201084/council-tax/1948/c...

Or am I wrong, Phil, Yvonne? Is this really the same in French for both? How is that the same as a year-end price discount? Cf.
https://thesaleshunter.com/year-end-price-discounts-is-this-...

Isn't this more accurate:
"...mid-size corporate clients of American Express can receive an end-of-year rebate on qualifying purchases made with..."
https://business.americanexpress.com/us/gcp/sites/us/home/cm...

This one says "rebate" too:
https://www.proz.com/kudoz/french-to-english/accounting/4185...

Or here, where 5 ppl agreed with writeaway (and the asker decided that this wasn't enough, apparently):
https://www.proz.com/kudoz/french-to-english/law-general/105...

Björn Vrooman

Not saying...

18:38 Feb 19, 2019

...this makes it much shorter, but what I do see is EOFY = end of financial year.

"All of the recommended retention periods are given in whole years, where ‘EoFY’ is shown this relates to the end of the current financial year."
https://www.northyorkshire-pfcc.gov.uk/decision-notices/0042...

"Energy Budgets 2005/06 EofY"
https://archive.angus.gov.uk/ccmeetings/reports-committee200...

Though there are many more links for Yvonne's suggestion of EOY, even regarding PAYE:
"Reconcile individual: posting EOY information to individual records: P14 / RTI end of year records"
https://www.gov.uk/hmrc-internal-manuals/paye-manual/paye920...

"Deadline date of 30 April 2018 for submission of EOY return notified at that stage."
https://democracy.eastsussex.gov.uk/documents/s17900/Appendi...

But, as shown in the last link, they spell it out first, as Phil suggested:
"End of Year (EOY) Return Submission."

[...]

Charles Davis

Spain

Just for reference

18:24 Feb 19, 2019

HMRC uses EoYR for end-of-year reconciliation in relation to PAYE.
https://assets.publishing.service.gov.uk/government/uploads/...

But of course reconciliation is not the same because it can be an adjustment for underpayment as well as overpayment, and it's a different context anyway.

To me a discount is when something is deducted from a payment that you have to make, whereas a rebate or refund is when money you have overpaid is returned to you.

If discount is the right word here (and "end-of-year discount" is used online for RFA), then EoYD would be an option, I think (obviously defined on first use). Or Phil's YED. I think "end of year" is pretty standard.

neilmac

Spain

ASKER

@Leo

18:12 Feb 19, 2019

No, actually it hasn't. My query is specifically about whether or not there is an abbreviation or acronym in common use for the concept. If it wasn't for the abbreviations, I wouldn't have had to post the query. Nevertheless, thank you for your extremely helpful contribution.

philgoddard

United States

17:53 Feb 19, 2019

This specific question has not been asked before, Leo.

There's no definitive answer to this. You should simply choose a translation and then put the abbreviation in brackets, eg "year-end discount (YED)" After that, you can simply refer to it as YED. You should normally avoid abbreviations, but it does sound like the term is repeated a lot, so it would be justified here.

Leo Stedul

Croatia

17:38 Feb 19, 2019

This was already asked and answered: https://www.proz.com/kudoz/french-to-english/bus-financial/4...

Answers

30 mins confidence:

end of year rebate/discount/refund

EOY rebate/discount/refund

Yvonne Gallagher
Ireland
Local time: 01:59
Specializes in field
Native speaker of:

English
PRO pts in category: 79

Grading comment

I think in the end I just used "Discount (year-end)"…… Thanks again to everyone for the help and comments.

Notes to answerer

Asker: Thanks, Yvonne. I know that we could coin an abbreviation, but what I'm really looking for is confirmation whether or not there is such a thing already in common use, so that I don't need to invent it.

Asker: The first definition I find when googling EOB is "explanation of benefits"...Although I assume you meant "end of business (day)". I might just dispense with the acronyms entirely and write it out in full.

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