Customer Credit Note and Sales Return
The Customer Credit Note and Sales Return is something like when we receive a return from sold goods and service, we need to get back the product or service back from customers. Either it can be reselable or wastage.
To create a sales Customer Credit, go to Sales > New > Customer Credit
Sales Return
Returned Goods or Service can be recorded with this page. You can start new Customer credit, incase if you don't have the invoice reference clearly. If you know the invoice, You can able to credit from the invoice view page, or Invoices tab. So you can able to credit it easily from the invoice. There is a Sales return from POS page as well. this will be described from other place.
Refund Money (Bank Payment)
There are few possibilities here, we might allocate the money on another invoice, or it might be refunded back to the customer. or in other case, the money can be partially refunded, its based on the consumption of product or service. That you can decide and make the options to go. We have another option like Item returned to inventory or write off. Both methods are good enough to use.
Once you make credit note, that will be allocated to the selected invoice and also payment of credit note amount has been left from allocation. Inorder to refund the money, we have to make Bank payment to that customer and allocate that payment to the Customer payment.
Lets try with an example
I am making one invoice with an item Mobile phone $2,000 and quantity of 5. So the invoice total will be $10,000 for 5 items. Now i have one defect mobile so I am returning it back to the vendor. Here i need to make a Credit from that specific invoice with the quantity one that we are crediting. So the invoice total is 10,000 and payment as also made for $10,000.
Now i credited for $200( one mobile cost). So during the process of crediting, we will unallocate $2,000 from customer payment and instead of that we will allocate the Sales Credit note.
So the invoice kept 10,000 and $8,000 from Customer payment and $2,000 from Sales Credit note. Its over on that side. And if you are giving refund to customer you need to make one Bank payment, and than come back to the same customer payment. There you can able to reallocate the Bank payment $2,000 to that Customer payment balance. With that you can complete the Refund process.
From our POS we are automatically making the Bank payment and allocate it against it. From Credit note screen also you can perform Refund to the customer with bank payment entry.
Now i credited for $200( one mobile cost). So during the process of crediting, we will unallocate $2,000 from customer payment and instead of that we will allocate the Sales Credit note.
So the invoice kept 10,000 and $8,000 from Customer payment and $2,000 from Sales Credit note. Its over on that side. And if you are giving refund to customer you need to make one Bank payment, and than come back to the same customer payment. There you can able to reallocate the Bank payment $2,000 to that Customer payment balance. With that you can complete the Refund process.
From our POS we are automatically making the Bank payment and allocate it against it. From Credit note screen also you can perform Refund to the customer with bank payment entry.
Return Goods
If the product/service can be damaged or not resell-able, We can choose Write-off to just perform the refund to the customer and inventory value should be write off. And bank payment will be processed to perform if the payment received.
Incase if that Product is ok and ready to sell again, We can return it to inventory location. And you can further make sales again to other customer.
Incase if that Product is ok and ready to sell again, We can return it to inventory location. And you can further make sales again to other customer.