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Copyright © 1996 Platinum Software Corporation. All Rights Reserved.
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PROCESSING CASH REFUNDS
If you have a customer who returns goods and requests a cash refund, you can simply pay the customer from your cash drawer and record the refund by entering a credit memo through Invoice Entry. The system will then balance the transaction when cash receipts are posted.
1) Enter a credit memo for the customer, making sure that the Customer Class is the same as that entered on the original invoice.
2) Enter a reference for your auditing purposes(such as "ADJ") in the Check Number field, and the refund amount in the Check Amount field.
3) On the second Invoice Entry screen, be sure to itemize the goods that were returned.
When the credit memo is posted, the system will credit the Cash account of the Customer Class you specified, and recommit the returned goods to inventory. When Cash Receipts are posted, the account will be debited, thus balancing the transaction.
