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Customer Refund Voucher

Warren Hamilton
Warren Hamilton
  • Updated

Process refund of credits under customer accounts. This involves checking of any credit balances under the customer account and facilitating refund to their nominated payment method.

 

No.

  • SCENARIO

Debit Posting

Credit Posting

AR Sub-ledger

AP Sub-ledger

1a

Refund of Deposit

  • Deposit

  • Accounts Payable*

  • Reduce Deposit Credits

  • Increase AP payable

1b

Refund of access payment 

(over payment credits)

  • Accounts Receivable

  • Accounts Payable*

  • Reduce AR Credits

  • Increase AP payable

2a

Refund of Deposit

  • Accounts Payable*

  •  
  • Deposit

  • Add back Deposit Credits

  • Reverse (reduce) AP payable

2b

Refund of access payment 

(over payment credits)

  • Accounts Payable*

  •  
  • Accounts Receivable

  • Add back AR Credits

  • Reverse (reduce) AP payable

 

 

Navigation

1. From the homepage, go to Finance module.

2. Navigate to the Accounts Receivable and Customer Refund Voucher.

 

 

Guide

1. Click the Create New button.

2. Select the Business Entity from the list and input the refund date.

3. Search the Customer Account by clicking the Search button.

Note: All credit balances will be displayed under the customer account.

 

4. Review the credit item and the Refund Amount. 

5. Under Payee Information, select the payment details:

  • Payment Mode
  • Bank
  • Bank Account Name
  • Bank Account Number

6. Review the payment details, once done click the Submit for Approval button.

7. Click the View Journal Transaction to review the adjusted journal entries.

8. To process payment, proceed to Payment function under Accounts Payable.

 

 

Notes:

  • Refund vouchers can originate from contract termination, deposit and over-payment.
  • Reversal of a Refund Voucher can be performed as long as payment has not been processed.

 

 

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