ANSWER ID:33808The tasks required to process an electronic refund to a customer are: - Create a "supplier" type card for the customer
- Create a clearing account
- Process the refund
- Process a Spend Money transaction for the refund
- Process the electronic payment to the customer
Task 1 - Typically you'll only need to electronically pay suppliers or employees. But you can also electronically pay a customer as a quick and easy way to process a refund. Because you can't record banking details in a customer's card, you'll need to create a supplier card for the customer to process the electronic payment. For more information on electronic payments, see the AccountEdge help (Australia | New Zealand). UI Expand |
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title | 1. Create a "supplier" type card for the customer |
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| Go to the Card File command centre and click Cards List. The Cards List window appears. - Click the Supplier tab then click New.
- Enter the customer's name and contact details. You can press the TAB key to move between fields.
- Click the Payment Details tab.
- Enter the customer's banking details.
- Click OK.
| Task 2 - UI Expand |
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title | 2. Create a clearing account |
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| This account is needed as a temporary "holding" account for customer electronic payments. - Go to the Accounts command centre and click Accounts List. The Accounts List window appears.
- Click the Asset tab then click New.
- As the Account Type, select Bank.
- Enter an Account Number which suits your account list.
- Enter an Account Name, such as "Customer Clearing Account".
- Click OK.
| Task 3 - UI Expand |
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title | 3. Process the refund |
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| A credit note must be created to process the refund against the original sale. The steps required to do this differ depending on the particulars of the refund. | See our support note Credit notes for thiscustomer credits, see the AccountEdge help (Australia | New Zealand). Once a credit note has been created: - Go to the Sales command centre and click Sales Register. The Sales Register window appears.
- Click the Returns & Credits tab. The credit note you created should be listed.
- Click the credit note then click Pay Refund. The Settle Returns & Credits window appears.
- In the Account field at the top of the window, select the clearing account created
| at Task - at Task 2 above.
- Click Record.
| Task 4 - UI Expand |
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title | 4. Process a Spend Money transaction for the refund |
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| Now that the refund amount is sitting in the asset account, you need to record a Spend Money transaction to transfer it to the electronic clearing account, ready to be paid to the customer. - Go to the Banking command centre and click Spend Money. The Spend Money window appears.
- Select the Group with Electronic Payments option at the top of the window.
- In the Card field, select the supplier card you created for the customer
| in Task - in Task 1 above.
- In the Amount field, enter the amount of the refund. This should match the amount of the refund processed
| in Task - in Task 3 above.
- In the Acct No. field (in the first line of the transaction) enter or select the asset account created
| in Task - in Task 2 above.
- Select the N-T tax/GST code.
- Click Record.
| Task 5 - UI Expand |
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title | 5. Process the electronic payment to the customer |
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| Providing your company file has been setup to make electronic payments, you can now process the refunded payment to the customer electronically. | See our support note Making payments electronically for information on completing this task using the Prepare Electronic Payments feature of your software |