Chapter 305 Refunds
Big Business keeps past functions and adds new so you may choose when to adopt new options. This chapter covers techniques and tools for giving a customer a refund.
You can create an Invoice with a negative Qty for a merchandise return. And you can create a negative Payment for credit card refund to include in your next Deposit.
Or you can use the Refund tool, which is a Check Run tool for automatically writing refund checks for any unapplied payments and credit invoices you want.
Select Refunds
Refund is a check run tool for issuing refunds against credit invoices and unapplied payments. The dialog to select items to refund has been updated, as pictured. A combined list of Invoices with a negative balance and Payments with an unapplied balance lets you select with a click on each row or using the Select button in the upper left to Select All or Select Through a date.
Refund Changes
Refunds are getting improvements to simplify their use:
• Refund appers in Customer toolbar
• Refundee appears on Contact window
• Role Name appears in Contacts, Add Columns
This Solution will provide details. (6819)
Giving a Refund Back to a Customer
This document outlines a procedure for generating a refund for a customer who has returned items. (5172, 30123)
Receive Returned Items
To create a credit memo for items returned back to you from your customers, open the Invoice tool in the Customer toolbar. For each of the returned items, enter the item in the line items section and enter a negative quantity for the quantity returned. Big Business will correctly calculate all of the taxes and totals automatically. If a customer is exchanging items, you can mix both positive and negative quantities together on the same invoice.
Printing Credit Memos
You can print out your Credit Memos on specially designed forms by clicking the print button and selecting one of the Credit Memo Print Options.
Returning Money Back to Customers
You can return the amount for the credit memo back to a customer. This can be done by going to the Receipts tab after creating the Credit Memo. In the Receipts tab, click on the Plus button to add a new payment. Select the desired payment method (i.e. Cash if returning cash, Check if writing them a check, or Credit Card if crediting their credit card). In order to complete this transaction, you must then deposit the negative receipt. This is the equivalent of giving money back to your customer. To do this, open the Deposit tool in the Banking Toolbar. Select the negative receipt along with the correct Account this money is coming out of (i.e. Cash Account, Checking Account, Credit Card Account). You can now write a handwritten check or process the credit card credit for this transaction and enter the Check Number or Authorization number in the Reference number field of the deposit.
Note: For Bank Account reconciliation purposes, you should create a separate “Deposit” for each check issued to your customers. This will keep each payment separate when you go to reconcile your account.
Refund Refundee
Refund Refundee lets you set a payee for refund checks when different than Customer Bill-To.