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    Refund Process in AR

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    Sajid
    A customer paid $10,000 for an invoice of $9,000, leaving an unapplied amount of $1,000. Normally this would be transferred to an on account balance for future transactions, but in this case the customer requested a refund of the balance. To process the refund, the document outlines setting approval limits, creating a receivables activity, requesting a refund, and approving it in accounts payable. A note mentions that approval limits must be set by a separate user due to system restrictions.

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    Refund Process in AR

    Uploaded by

    Sajid
    11 views4 pages
    A customer paid $10,000 for an invoice of $9,000, leaving an unapplied amount of $1,000. Normally this would be transferred to an on account balance for future transactions, but in this case the customer requested a refund of the balance. To process the refund, the document outlines setting approval limits, creating a receivables activity, requesting a refund, and approving it in accounts payable. A note mentions that approval limits must be set by a separate user due to system restrictions.

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    A customer paid $10,000 for an invoice of $9,000, leaving an unapplied amount of $1,000. Normally this would be transferred to an on account balance for future transactions, but in this case the customer requested a refund of the balance. To process the refund, the document outlines setting approval limits, creating a receivables activity, requesting a refund, and approving it in accounts payable. A note mentions that approval limits must be set by a separate user due to system restrictions.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    11 views4 pages

    Refund Process in AR

    Uploaded by

    Sajid
    A customer paid $10,000 for an invoice of $9,000, leaving an unapplied amount of $1,000. Normally this would be transferred to an on account balance for future transactions, but in this case the customer requested a refund of the balance. To process the refund, the document outlines setting approval limits, creating a receivables activity, requesting a refund, and approving it in accounts payable. A note mentions that approval limits must be set by a separate user due to system restrictions.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    Download as pptx, pdf, or txt
    of 4

    Refund

    Setups and Process


    Scenario

    Invoice amount = 9,000


    Customer Paid = 10,000
    Unapplied amount will be 1000

    Generally, we will transfer this 1000 amount to On Account so that we can adjust it for future
    transactions.
    But here, Customer is not a regular one and he wants REFUND for his balance amount

    For that we have to do some setups


    Process

    Create Receivables Activity

    Set Approval Limit

    Request Refund

    Approve it in AP
    Note

    We set approval Limits for both Write-Offs and Refunds

    we have to login with other credentials and set limit for current user as system doesnt allow you to set limit
    for the user by the same user itself.

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