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How to process a cash purchase return?


Hello,

How can we process a return on a cash purchase ?

An item was purcahsed and returned several days later. If we void the transaction, how would we be able to perform the bank reconciliation?

 

Thank you,

Best answer by Laura02

Hello @kelsy ,

When you Void the Cash Purchase, the original and the reverse of the original are separate transactions in the system. Both the initial purchase and  its reverse will appear in the Bank Reconciliation.

Depending on how they clear the bank, you can clear them on the same Reconciliation Statement, or on separate Reconciliation statements.

Laura

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2 replies

Manikanta Dhulipudi
Captain II
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Hi @kelsy Please find the steps for return cash purchases.


Laura02
Captain II
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  • Captain II
  • 3135 replies
  • Answer
  • May 29, 2024

Hello @kelsy ,

When you Void the Cash Purchase, the original and the reverse of the original are separate transactions in the system. Both the initial purchase and  its reverse will appear in the Bank Reconciliation.

Depending on how they clear the bank, you can clear them on the same Reconciliation Statement, or on separate Reconciliation statements.

Laura


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