Summary
How to process customer refunds in Sage 50 Accounting for an overpayment, return of merchandise, etc.
Resolution
1. Create a credit memo
If you already have a prepayment or overpayment, skip to part 2.
- Show General Ledger accounts. See General ledger (GL) account field is missing on task windows.
- Select Tasks, and then select Credit Memos.
- Select the appropriate Customer ID.
- Enter a Credit date and Credit No.
- Select the appropriate GL Account.
- Enter the Amount of the refund.
- Select Save or Print.
NOTE: If you plan to apply this credit to a future transaction, follow part 3 then.
2. Create a payment
This step creates a refund check. Follow this section only if the customer is getting a refund, as opposed to a store credit to apply to a future purchase.
- Select Tasks, and then select Payments.
- Change Vendor ID to Customer ID, and then select the appropriate Customer ID.
- Enter the Date and Check/Reference No.
- Select the appropriate GL Account.
- Enter the Amount of the refund.
- Select Save or Print.
3. Create a receipt
- Select Tasks, and then select Receipts or Receive Money.
- Select the appropriate Customer ID.
- Enter a Date, and then enter a Check/Reference No.
- On the Apply to Invoices tab, both the credit memo and refund check will show as a negative and positive amount, respectively. Mark Pay on both lines, which result in a $0 receipt.
- Select Save or Print.