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Restocking fee for a customer

  • 19 November 2023
  • 1 reply
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Our customer returned an item and we issued their money back.  I did a RC to return the inventory item back, issued the CM and refunded the credit memo all for the full amount.  However, they are paying a restocking fee so now I have a balance leftover.  The CM is still showing as open.  How do I close the loop and process the restocking fee?

Best answer by Laura02

Hello @deb589 ,

I searched Acumatica Community and found a few ideas for you to consider, for creating your company policy/steps needed for recording restocking fees. (There are several ideas listed, some added after the answer was selected; do read all the way through the posts.)

To address the rest of your question:  the customer has a Credit Memo with an open balance to be adjusted out, correct?

Enter a debit memo to the same customer in the same amount that is open on the CM. Ask your accountants what account number to use on the Debit Memo: maybe the same account number that was used on the Credit Memo line, maybe a different write-off account.

Apply the Credit  Memo to the new Debit Memo in Payments & Applications screen.

Laura

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Laura02
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  • Captain II
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  • November 21, 2023

Hello @deb589 ,

I searched Acumatica Community and found a few ideas for you to consider, for creating your company policy/steps needed for recording restocking fees. (There are several ideas listed, some added after the answer was selected; do read all the way through the posts.)

To address the rest of your question:  the customer has a Credit Memo with an open balance to be adjusted out, correct?

Enter a debit memo to the same customer in the same amount that is open on the CM. Ask your accountants what account number to use on the Debit Memo: maybe the same account number that was used on the Credit Memo line, maybe a different write-off account.

Apply the Credit  Memo to the new Debit Memo in Payments & Applications screen.

Laura


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