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Record a sales refund

Please note that this process is also covered by the Easy Steps component.

A sales refund can be recorded in 2 places:

  1. In the Sales Transactions Component
  2. In the Customer Records Component

The protocol for both is identical, with the exception that in the Sales Transactions component the option is there to associate the sale with a customer, whereas in the Customer Records component this is automatically assigned.

We will describe this process in the Sales Transactions component.

If you are adding a refund with no previous sales transaction (because it was held in some previous software, or manual bookkeeping system) then do this:

First, select the component, either by clicking on the Sales Transactions icon, or by choosing Sales>Sales Transactions from the main menu.

There are five fields which MUST be completed for the transaction itself to be considered complete by the software: Tax Date, From Account, To Account, Total Amount, and VAT Code (provided you are Tax registered). There are further fields which can be filled in to embellish the transaction with extra information, such as Customer, Reference.

Next, click the Accounting Software button add Create a new transaction button in the top toolbar. This adds a new transaction line to the table.

Enter the date in the Tax Date field. As you start typing, a pop-up calendar will appear. You can either click on the required date, or type it in manually. The software will recognise most date dividers, such as full stops, slashes, etc.

Enter your Sales account in the From field and the place the refund is going to in the To field (eg. Bank or Invoices Unpaid). Enter the Total including VAT but as a negative amount. Press the correct VAT code if registered and that’s it done. You are simply reversing the original transaction by doing this (ie. using negative amounts).

If you have the original sales transaction in the system it is much easier:

  1. Find and highlight the original transaction
  2. Click the Accounting Software button credit note insert based on this sale Insert Credit Note based on this sale - Inserts credit note transaction(s) based on the selected sale(s)
  3. Enter the date of the refund to complete the transaction