Customer Refunds
Overview
Using the Customer Payment > Refund Wizard, you can process monies
owed to a customer as either a check or record the fact that you gave it
back on their credit card.
Prerequisites
The money to be issued back to a customer must already exist in the system in the form of either Unapplied Funds (monies on their account that weren't applied to anything else) or a Credit Invoice.
Training Videos
Refund to Customer on a Check
If you are unable to view the video above, please click HERE
Refund to Customer on a Credit Card
If you are unable to view the video above, please click HERE
Refund a Credit Invoice to the Customer
If you are unable to view the video above, please click HERE
Financial Impacts
Refund Customer with a Check: (Customer) Deposits GL is Debited, Accounts Payable is Credited.
Once the AP is processed, the AP is Debited, Checking is Credited.
Refund Customer with a Credit Card: (Customer) Deposits GL is Debited, Undeposited Funds is Credited.
Use the Bank Deposits process to Debit Undeposited Funds and Credit Checking.
Refund Customer via a Credit Invoice - refunded on Company Check: Accounts Receivable is Debited, Accounts Payable is Credited.
Once the AP is processed, the AP is Debited, and Checking is Credited.
Refund Customer via a Credit Invoice - refunded through Petty Cash: Accounts Receivable is Debited, Petty Cash is Credited.