REFUND TO CUSTOMER WHEN TRADE VALUE IS MORE THAN UNIT SALE

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1 Method #1--If customer wants a refund cheque STEP 1-Set up an AP Clearing account if it does not already exist. 1. Go to Finance/GL/Update/Account Update 2. Enter current GL Year Sequence. 3. Choose a new Account Number for your payable clearing (preferably a number close to AP Control Account). 4. Enter Payables-Clearing in the Description field. 5. Choose liability for Account Type. 6. Status is Active. 7. Account Category is Accounts Payable. 8. Ignore Department and Store location. This will only have to be done once. In this example the new account number chosen was Page 1

2 Step 2- Set up Payment Code A new payment code must be set up for the payment to default to your new AP Clearing Account 1. Go to PTS/Table Maintenance/Sales Tables/Payment Codes 2. Choose Other for Payment Code. 3. Go to GL Bank Account. Choose the new AP Clearing Account created in Step 1. This step will also only have to be done once for the set up of customer refunds. Page 2

3 Step 3-Set up Customer as Vendor 1. Go to Vendor Update on far left of screen. 2. Select New. 3. Enter the Customer information in Vendor Screen. The Customer file information can be used. 4. Enter Accounts Payable as Payables Code 5. Enter the appropriate Funds Code. 6. Choose Payables Control Account for Default GTL Account. This step will also only have to be completed once. The customer is now also a vendor. Page 3

4 Step 4- Create an Accounts Receivable Invoice for the Customer for the amount that is owed on the unit sale. 1. Go to Finance/Receivables/Update/Invoice Update. 2. Click New. 3. Enter the Customer ID. 4. Enter the Date if it is different from the default date (today s date). 5. Select Exempt as the Tax Code. 6. Enter Quantity 1, unit ea, Product (use Unit ID), Description is refund. 7. Enter the amount the customer is owed. 8. Choose the new AP Clearing Account number for the Sales Account number. 9. Click Print. 10. Click Submit This creates the offsetting entry for the Customer s Accounts Receivable balance. Page 4

5 Step 5- Enter Payment to Clear Accounts Receivable. 1. Go to Finance/Receivables/Update/Payment Update. 2. Enter the Customer ID and press TAB. 3. Enter the Payment Date. 4. Select Other as Payment Form. 5. Enter Refund in the Description field 6. Select either no or yes for printing of receipt. 7. Tab down to Payment box. X out any other invoices the customer has outstanding that show here. 8. Enter the negative amount owing in the Payment field for the deal of the invoice. 9. Enter the positive amount in the payment field for the invoice created in step Click Submit. Page 5

6 Step 6- Create AP Invoice for Payment to Customer 1. Go to Finance/Payables/Update/AP Invoice. 2. Enter the Vendor ID created in Step Create an invoice number. 4. Enter the appropriate date. 5. Enter in Due Date if different from default 6. Select exempt for the Tax Code. 7. Tab to the line amount and enter the amount owed to the customer. 8. Enter refund in Description field 9. Select the new AP Clearing account number 10. Click Submit. You have now created an invoice and are ready to pay the customer/vendor the amount owed. Page 6

7 Step 7-Create AP Cheque for customer 1. Go to Finance/Payables/Update/AP Cheque Entry. 2. Click New for Cheque Number. 3. Enter the new vendor code created in Step Tab down to the Date field and make sure it is today s date. 5. Depending on your Due Date for the AP invoice, you may have to enter a future date in the on or before due date and click reload list. 6. The invoice you created in step 6 should appear in the Payment field. 7. Click Submit and Print. 8. Issue the cheque to the customer Page 7

8 Method #2- Direct Payment to Customer s Bank Account through Debit Card Assuming you have already entered a sale in unit sale with a trade in value greater than the sale of the new unit, your initialized sale screen with look like this: Step 1- Create a payment 1. Click on Payment. The Payment screen will appear. 2. Click Add Payment. 3. Click Debit and enter the negative amount the customer owes. 4. Click submit on the Unit Sale screen. 5. Finalize sale as you normally would. This can also be done from the finalize sale screen. 6. Have the customer enter their debit PIN. 7. Print receipt. Your finalized sale screen should now read the customer has paid a negative amount and they still owe zero. Page 8

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