Yep. Also I can confirm that for at least some accounting, MS treats the free credits as revenue. They will give discounts and consideration based on your spend

Yep. Also I can confirm that for at least some accounting, MS treats the free credits as revenue. They will give discounts and consideration based on your spend even when the spend is just credit another dept gave out. Clients have told me of very happy calls from MS reps when their projected spend for the year exceeded 50K even though it was nearly 100% credits.