Good morning,
I am trying to do a refund through a payment received in a closed financial period.
How is it possible to do so while keeping the financial period closed? We are refunding it as of today but the payment will not allow a refund to occur due to the financial period being closed when the payment was received.
Hello
Users assigned to the “Financial Supervisor role” have the unique ability to post transactions to closed financial periods. This is particularly useful for making adjustments or corrections after a period has been officially closed.
Users assigned to this role can reopen Closed periods and unlock Locked periods, and also post to closed periods even if the Restrict Access to Closed Periods check box is selected on the General Ledger Preferences form.
Kind Regards,
Amaan
Hi Amaan,
Just to confirm, allowing me to have access to do so...will not actually post a REFUND transaction to that previously closed period though, correct? Its just using those funds from the previously closed period to refund the order?
Hello
The Refund action will create a new document of the Refund type with the settings of the original document, and applies the new refund to the original document.
The refund can be posted to a different period other than the original document.
Kind Regards,
Amaan
Thank you for the information, Amaan! Greatly appreciated.
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