Refunding a Customer in Cash

Accolent ERP allows for the refunding of Customer Credit Memos (or Unapplied Cash) rather than more typically applying these against an open Accounts Receivable balance. First create a Credit Memo then, once created, the Credit Memo may be refunded in cash, by check or to a credit card.

Create Invoice and Credit Memo

  • Create Invoice I77275 for $111.32 and collect payment in cash of $109.09 net of discount on receipt 22624.
  • Create Credit Memo CMI77275 and an Other Charge to offset the payment discount.

Create a Customer Refund

  • Go to Sales > Credit Memos > Create a Customer Refund.
  • Select Credit Memo CMI77275 to be refunded.
  • Select Payment Type of Cash.
  • No need to select Refund Bank since this is a cash refund.
  • The GL Accounts will default in.

General Ledger Posting

  • Look up GL Posting in Payment Receipts Journal.

Customer Account Updated

  • Go to Customer > Collections.
  • Both Invoice I77275 and Credit Memo CMI77275 show as paid.

  • Similarly, both payment receipts 22624 and 22625 show up.

 

 

 

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