Overview of Return to Credit
- The Return to Credit process allows you to give credits and refunds to your customers.
- Customer credits can be issued as stand-alone credits or created from an associated invoice.
- Credits can be applied to invoices to decrease the amount owed, applied to a customer payment, or refunded back to the customer.
- If you require that product be returned before you issue a credit, initiate a Return Authorization.
- The return authorization keeps track as the item is returned and received, safeguarding you against losses due to crediting unreceived returns. Items can then be restocked or written off.
- Once the item is received, use the Return Authorization to generate the Credit Memo,
- Apply the credit memo to an open invoice or customer payment or refund back to the customer.
Return to Credit Process:
- You may issue credits and refunds to reimburse your customers for unsatisfactory goods and services.
- Record customer credits by creating a Credit Memo.
- Create a Standalone Credit Memo to issue a credit not associated with a particular sales transaction.
- To credit items from a sales transaction, generate the Credit Memo from the associated invoice to link the records together for easy reference and visibility.
- Credit Memos can be created from open or paid invoices.
Credits created from an open invoice can be applied back to the invoice to reduce the amount the customer needs to pay. - Credits created from paid invoices can be applied to other open invoices, used when receiving a customer payment, or refunded back to the customer.
Refund a Credit Memo
- Create a stand-alone credit memo.
- Transaction > Customers > Issue Credit Memo > List
- Click and view the link of Open Credit Memo.
- On the Credit Memo Click the Refund.
- It will open in the Customer Refund page.
- The Customer Refund record is generated.
- Then Save the changes.
- You can see the customer refund result by click the credit memo type.