Quicken & Other Budget/Accounting Software/What must I do if I receive a returned item and then I must give it back to my customer with the same quantity as I received!
How are you today? Hop you are very fine.
I have using QB 2008 and I am in wonder about the returned item I got from my customer.
For example, I received 1 item called "HNH" (the quantity I got is 10) from my customer and I issued the invoice for this item already. Make sure that "HNH" isn't accepted, so I am very sure I must give it back to my customer sooner because "HNH" isn't available. It means I must change "HNH" with the good and accepted item at any time in the future.
Hope you can understand what I mean.
Thanks a lot and best wishes to you!
I am looking forward to hearing from you sooner!
Sorry for the delay , its a holiday weekend here.
When a customer sends product back to you, you would use a credit memo.
Customer menu > create credit memo
This credit memo will
a. reduce the amount of money owed to you from the customer
b. Increase inventory for the product returned.
If the customer does not owe you any money, you would still create the credit memo.
Then refund the credit memo by writing a check to the customer
The check is payable to the customer
Select the account : Accounts receivable
And in the Customer:Job column enter the customers name.
Next open a receive payment window, click once on the check you just created
And click on the set credit button. This will apply the credit memo to the check
refunding the customer the money.
If the product returned by the customer is not suitable for sale, and you still
want to credit the customer for the purchase.
Create a credit memo, but do not use the inventory item.
If you dont already have an item setup for returns that cannot be resold
Set up a new item
type = other charge
Name = Returned goods
Account = (an income account called sales returns and allowances)
Leave the description blank.
When you use this item on a credit memo, you will type in the description the
reason for the credit.
Let me know if this did not answer your question. I was not sure if I understood
Linda Saltz, CPA
Advanced Certified QuickBooks Advisor
We sell and support QuickBooks Enterprise