Use Credit Memo Entry to perform refunds on counter sales receipts.
Performing a refund:
1. If you are already in Counter Sale Entry, select Go To-->Credit Memo Entry from the menu. Otherwise type the access code CM at a FACTS menu screen.
2. In Credit Memo Entry, enter the document header. Use the Invoice field in the header to apply the credit memo to an existing invoice.
3. When you complete the header, press Enter (CR) to add the returned item information on the document.
4. Enter the item number. Press F2 to search on items.
5. Enter the quantity being returned. You do not need to enter a minus; the program automatically inserts one.
6. Enter a two-character reason code. Press F2 to search for a reason code that best describes the customer’s reason for returning the item or items.
7. Enter the price of the item being returned. Press F2 to change the pricing UM. Press F3 to use the Price Search feature.
8. Add additional items if necessary.
9. Choose Done when you are finished entering items to access the credit memo footer.
10. Select a Refund Type in the footer.
To apply the refund to a customer’s account, use the A/R Terms field.
Press F2 and select the CM A/R terms code in the search window. The CM, or credit memo, terms code uses no discounts or payment schedules. It simply tells FACTS to post the document to the Accounts Receivable module.
Ü You can set CM as the default A/R terms code for all Credit Memo documents on the Inventory tab of the SO Static Control F/M.
To give the customer a cash refund, use the Cash Terms field.
Press F2 and select a Type C Cash Terms code from the search window. Enter the amount of the refund. Make sure you enter the amount as a negative number. For example, enter -50.50 if you want to give the customer $50.50 back in cash.
To apply the refund to the customer’s credit card, select the Payments button to access the Deposit/Payment Entry window.