Refunds

When Calculate Refunds is selected, the system issues a refund transaction for any invoice with a credit balance. You have the option to edit or delete any refund transaction. When refunds are posted, the amount of the refund is transferred from Accounts Receivable to Accounts Payable by means of an Accounts Receivable Adjustment, and an invoice is created in Accounts Payable so that a check can be printed for the customer.

For example, a refund of $100.00 generates an Accounts Receivable Adjustment that posts to general ledger as follows:

This generates an Accounts Payable Invoice for $100.00.

APPX Software, Inc.

Accounts Receivable User Manual

Published 5/95