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
View original
+18
Hello
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
Enter your username or e-mail address. We'll send you an e-mail with instructions to reset your password.