When customers have unapplied credits (i.e., funds) in their accounts, you can either apply the credits to outstanding chargeable items or return the credits to customers.
Use the Return Funds window to return credits/money to a customer. You can use all payment types (e.g., Visa) specified as Refundable to return funds.
Editing returned funds allows you to change the Date, Payment Type, Tracking/Cheque number, and Comment.
What you'll find:
To return funds to a customer
* indicates a required field
Navigate to Accounts Receivable > Customer Accounts. Or click the Customer Account toolbar button.
The Find Customer window opens.
Find the customer using the various search criteria.
Click Return Funds.
The Return Funds window opens and all unapplied credits are listed.
Note
For each Unapplied Credit in the list, you can return the entire amount or just a partial amount.
In the Date* box, optionally change the date that the payment is being returned.
Today’s date is selected by default. You can change this date to a past date, but future dates are not permitted.
(Config U) In the Location* box, enter the location that owns the refund.
In the Payment Type* box, enter the method of payment you are using to return funds to the customer.
If you have selected a cheque refund payment type, please read the special notes below.
In the Tracking/# box, optionally enter a tracking or reference number (can be mandatory).
If you are returning funds by cheque, agrē will enter the cheque number for you.
In the Comment box, optionally document the transaction with additional information.
If no comment is entered, it will default to "Returned Funds" on Save.
In the Return in Full column, select the Return in Full check boxes of the items that you want to return to the customer in full.
- or -
In the Amount column, enter the amount of money that you want to return to the customer. You cannot return more funds than the customer’s total unapplied credits.
Tip
To view the source document of the credit (e.g. the Payment Receipt) click it and click View Item.
Note
Total Refund displays the total amount of money you are refunding.
Click Save.
The customer’s account is updated, and the returned funds are displayed as negative payments in the customer account activity and statement reports.
AR refund cheques can be generated only through Return Funds using a refundable AR Payment Type linked to an AP Cheque payment type. They cannot be generated from a product return on an invoice with an immediate payment.
Caution
To print an AR Refund Cheque requires security permission to the AR Print Cheques report before processing the refund.
After you Save the refund, the Print Cheque Confirmation window opens.
If you do not have security permission to print the cheque you will not be allowed to save the refund.
You'll be prompted to confirm the Cheque Number and print the refund cheque.
Optionally change the Cheque Number to match the number on the preprinted cheque and click Print Cheque.
The AR Print Cheque window opens.
Print the AR cheque and click Exit to close the window.
The Printed Correctly? window opens.
Click Yes if the cheque printed correctly .
The Printed Correctly? window closes.
Click No if the cheque did not print correctly (maybe there was plain paper in the cheque paper tray) .
The Reprint Cheque? window opens and prompts you to print again.
Note
If at any time you indicate that the cheque did not print correctly and you do not want to reprint it, the refund will be saved to the customer's account but no cheque number will be assigned. You can delete the refund and nothing will show on the customer's statement.
Click Yes to reprint and you'll go back to the Print Cheque Confirmation window, and again have an opportunity to change the cheque number.
Click No if you don't want to reprint the cheque.
Once the cheque has been flagged as printed successfully, the indicated cheque number for the selected AP payment type is assigned.
The cheque #will display on the Customer Account History tab in the Reference column. It will also display on the AR Payment Activity report and on Bank Reconciliations.
Once the cheque # has been assigned, the Return Funds transaction cannot be deleted (this is to prevent 'losing track' of the cheque since it does not appear anywhere in AP).
If a mistake was made, you will need to Reverse the Payment. A reversal will show on the customer's statement.