You use the A/R Refund Entry screen to:
- Enter cash or check refunds to customer accounts.
- If you use Payment Processing, enter credit card refunds to customer accounts.
- Print payment checks for customers.
Note: You can issue an advance credit for goods that a customer is returning. For more information, see Advancing Credit to a Customer for Returned Goods.
Entering Customer Refunds
Refund Entry lets you refund a customer using a combination of cash and check payments for a single refund. If you use Payment Processing, you can apply a refund to the credit card used for a transaction, or refund the customer using a cash or check payment.
- For cash refunds, you specify a cash account (for example, Petty Cash) or a bank code to identify the bank.
- For check refunds, you also specify a bank code.
- For credit card refunds, you select a document with the payment type SPS Credit Card (which indicates that a Paya credit card transaction was processed for the document).
You can apply a single refund to several credit documents, and you can refund these credit documents using the same tender (cash or check) in which you received them.
Allocating Job-Related Refunds
Accounts Receivable maintains the outstanding balance for each detail on job-related documents. Therefore, when you refund a job-related credit note or prepayment, you must specify how much to refund for each detail.
You can accept the allocation that Accounts Receivable calculates using the apply method specified for the refund, or you can use the Job Details screen to allocate amounts manually to specific details.
Printing Checks
If you are refunding by check, you can print:
- A single check by clicking the Print Check button on the A/R Refund Entry screen when you enter the refund.
- A range of checks by selecting a refund batch on the Refund Batch List screen, and then clicking the Print/Post button.
For more information on the steps for printing checks, see Printing Checks.
Posting Refunds
You can either post refunds and print refund checks at the same time, using the Refund Batch List screen, or you can post a range of refund batches (for which you have already printed checks), using the Post Batches screen.
When you post refunds, Accounts Receivable:
- Updates Bank with the refund check information.
- Updates Project and Job Costing for job-related refunds.
Note: If you use Payment Processing, you must process all credit card refunds in Paya before posting in Sage 300.
Multicurrency Ledgers
If you are adding a multicurrency refund, you specify the bank and the currency for each tender (cash or check) you use on the refund. You use one bank and one currency per tender, although you can issue a single refund that uses different tenders and currencies.
If you are refunding in a currency that is neither your functional currency or your customer's currency, you specify the rate type, rate date, and the exchange rate on the 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.