Overview 

The process to create a refund for a balance on a Credit Memo from beginning to end can conveniently be completed directly from a Credit Memo. The system will automatically create behind the scenes the appropriate records for tracking this process. Additionally, this includes being able to print a check as part of this process (if necessary), as well as view refund information on the customer’s Activity Statement. 

Clicking the Refund button on the Billing screen for the Credit Memo will display the “Issue Refund from a Credit Memo” dialog box. This dialog box includes the following:

• Refund Amount to be Processed - defaults to the balance on the Credit Memo. This amount can be modified, if necessary.
  Note: The amount entered in this field cannot exceed the balance on the Credit Memo.
• Bank Account - select the GL Account to which a debit entry will be made upon posting. 
• Reference - this defaults to the related Credit Memo number. This information can be modified, if necessary.
• Refund Date - the issue date of the refund. Click the Calendar icon to select a date. 
• Payment Type - click the drop-down list to select Check or Electronic. 
• Memo - this textbox is available to include notations about the refund for printing on the check. 

After completing the fields in the “Issue Refund from a Credit Memo” dialog box, click Confirm to start the actual refund process. When you click Confirm, a Refund Cash Receipt is created. This is applied to the Credit Memo and used to print the refund check, if the Payment Type is Check. The newly created Refund Cash Receipt automatically has the Type field set to Customer Refund.  

Issue a Refund from a Credit Memo

1. Navigate to Accounting Home and click the Create Entries tab. Then, under the Revenues menu, click Billings.
2. Select a list view (other than the Recently Viewed list view).
3. Choose the Credit Memo for which you want to issue a refund.
4. Click Refund. The Issue Refund from a Credit Memo dialog box displays.
   
5. Most of the fields automatically default from the Credit Memo. However, you can modify the default information, if necessary.
   
   Note: Required fields display with a red asterisk (*).
   
   Note: If you include additional fields on the CR Refund field set, they will display in the Accounting & Other Information section. For more information, refer to the Edit a Field Set article.
   
   
   1. Refund Amount to be Processed
      Note: Only unapplied amounts on the Credit Memo can be refunded. 
      
   2. Bank Account
   3. Reference
   4. Refund Date
   5. Payment Type
   6. GL Variable 1-2
   7. Check Number
   8. Memo
   9. Currency (displays if Multi-currency is enabled)
      
      
      
      
6. Click Confirm. A message displays with the new Cash Receipt number.
7. Display the Cash Receipt list view.
   Best Practice: Create a list view specifically filtered on the Refund Cash Receipts. Cash Receipts that are refunds will automatically include “Customer Refund” in the Type field.
   
   
   Note: Click here to view the above image in full screen. 
   
   
8. From the list view, select the newly created Cash Receipt.
9. If Check was selected as the Payment Type, on the negative Cash Receipt, click Print Check to print a check for the customer.
   
   Note: The Payee address fields must be completed in order for this information to display correctly on the check and the check stub.
   
   
   Note: Click here to view the above image in full screen. 
   
   The refund information will be available to display on the Activity Statement for the customer.
   
   
   Note: Click here to view the above image in full screen. 

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Summer '24 Release

Release Notes and Schedule

The Accounting & Other Information section was added to the Issue Refund from a Credit Memo dialog box.