Overview
Use this screen to:
- View or edit either the cash account or bank from which a cash refund is to be paid. (The program displays the bank account for the default bank specified on the A/R Options screen.)
Generally, if you are paying the refund with money that has already been withdrawn from the bank, you specify a cash account. For example, if you are paying the refund from your petty cash float, specify your petty cash account in the Cash Account field. (In this case, the bank was updated when the cash was withdrawn, and will be updated again when you replenish the petty cash account.)
However, if you want to update the bank when you process the refund (for example, if you will transfer funds electronically, later), enter the bank code in the Bank field.
- View the total amount of this refund to be paid in cash. In a multicurrency ledger, the amount is displayed both in your functional currency and in the customer currency.
- Change the currency for a cash refund. (The program uses the customer currency as the default.) The currency must be specified for the bank, in Bank Services.
If you are refunding in a currency that is neither your functional currency nor your customer's currency, you also specify the rate type, rate date, and the exchange rate on this screen.
If you are refunding in your customer's currency and it is different from your functional currency, you use the Rates tab to specify the exchange rate for amounts you are refunding by cash or check.