Creating a Non Stock Financial Credit from a Sales order

You can create a non-stock financial credit to refund the customer money instead of crediting a product.
A Customer may request a credit for a broken item or parts missing etc. Instead of crediting the product itself and asking the customer to return the product, you can just issue a financial credit and let the customer keep the product. No stock affect at all. Just a refund of some sort. Whether it be a partial or full credit for the broken item.

Step 1.

Create a General ledger account to stand for eg Sales - Financial Credit

Create a general ledger account for the financial credit

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Step 2.

Create a Non-Stock Product Category and assign the gl account to the Sales area

Non Stock Product Category and assign gl to Sales area

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Step 3.

Create a product to stand for Financial Credit. Add the right Category to this product. Do not add a sell. Ensure you have selected the right taxcodes if any apply.

Create the Financial Credit Product

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Step4.

Set up the system reference to activate this feature

Add the financial product to the system reference>Sales>Sale-credit-financial-only>FinancialCredit

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Procedure

• Navigate back to the sales order

• Highlight the right Sales order for which the full or partial credit will apply. Please note, this is a financial credit refund for a product that may be broken, and the product has not been returned into stock at all; the customer has either kept it or it has been disposed of.

• Search and highlight the sales order in question

• Click on the Credit Action button in the top ribbon of the sales order

Click on the Credit action button in the top ribbon ( not in the detail area)

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• A pop-up window will appear 'Do you wish to refund financial only ? (No stock adjustment)

• Say Yes or No to return
  
  

Select Yes if you wish to refund the money only with no stock being returned at all or No to return

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• The Salret window will appear with the product that stands for the Financial credit.

• Insert a Price INC or ValueInc and click on Save
  
  

Insert the full credit value either in PriceInc or ValueInc

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• Click on the Complete Action button in the top ribbon

• A Tender window may appear depending on the settings on the customer card

• Select the right tender for the refund in question

Click here to expand...

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Click on Ok