How do I enter a refund or rebate to a customer?

Legacy KB ID: 200

Question

I need to refund some money to a customer.  He has an outstanding invoice that is smaller than the refund.  How do I process this in Reckon Accounts and send a cheque for the balance?

Answer

For Reckon Accounts:

Consider the following scenario:

Outstanding Invoice: $2,000.00

Refund to Customer: $3,000.00

Apply $2,000 to the invoice

Send a cheque to the customer for $1,000

 

To create a refund for a customer Customers > Create Adjustment Notes / Refund;

1.    Select the Customer;

2.    Select the Item – this may be the item of a previous transaction that the refund relates to, or it may be a general purpose Service item for refunds.

3.    Ensure proper details are recorded (Amount = $3,000.00) and the correct Tax Code selected;

4.    Click on Save & Close

5.    On the Available Credit screen, select Apply to a tax invoice;

6.    Select the invoice and click on Done.  The customer now has an outstanding credit;

7.    Open the Adjustment Note created in 1 above – in the bottom right corner you will see Remaining Credit $1,000.00;

8.    On the Tab line for this window, click on Use Refund to and select Give a refund and click OK;

9.    Check details on the Issue a Refund screen – select the correct bank account, select the method of payment in the Issue this refund via box.  Click OK when ready.

10. Write the cheque to the customer. 

 

 

Applying a credit memo to an Invoice:

1) From the Activities menu, select Receive Payments.

2) Select the Customer: Job from the drop down list. There will be an amount in the Existing Credits field as soon as you select the Customer:Job.

3) Do NOT enter an amount in the Amount field. Leave the amount at 0.00.

4) Click the "Apply existing credits?" checkbox.

5) If Sales/Invoicing Preference is set to automatically apply payments, then Reckon Accounts entered the credit amount in the payment field of the oldest outstanding invoice. If Sales/Invoicing preference is not set to automatically apply payments, then click the Payment column and enter the amount of the Credit Memo next to the Invoice being credited.

 6) Click OK.

 


Need more help?

Ask the Reckon Community at: https://community.reckon.com/categories/reckonaccounts

Or

Log a Support Ticket: https://www.reckon.com/au/support/

How did we do?

How to process PAYG Tax and Tax Payable on a single cheque in QuickBooks

How to re-import a bank statement file (*.qif)

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