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  • 1.  Open CRM & Refund Check

    Posted 24 days ago
    Hello All!

    We are cleaning up open credits on accounts. We ran an aged AP report and found some vendors that we have not used in a long time and we have a credit on their account. We reached out and received a refund check for the credit. I will be receiving the check using the "return" option so it is displayed in their vendor summary, but what do I do about the open CRM? I thought I could just void it, but it is partially used and the system will not let me void it.

    I was thinking of entering a dummy invoice and then issuing a "payment" to zero out the dummy invoice and the credit and then receiving the check, but that seems like a lot of misc. entries. I hope there is a more simple way to do this process.

    Thank you!

    ------------------------------
    Amanda Pezewski
    Prevea Health, Inc.
    Green Bay WI
    ------------------------------
    Academy - Online Interactive Learning from Experts


  • 2.  RE: Open CRM & Refund Check

    GOLD CONTRIBUTOR
    Posted 22 days ago
    Hi Amanda,
    You typically have a couple of options to receive this refund.  One is to enter an Invoice or Misc Charge transaction in Payables and then using a bank transaction to deposit the check and make sure that your GL distributions work between the transactions.  The other is to setup a Customer/Vendor Relationship in GP so that you can receive the check in Receivables and have it update Payables.  If this is expected to be a one-time issue, I typically go with the separate payables and bank transactions.

    Hope that helps.

    ------------------------------
    John Kirsch
    GP Product Lead
    Dynamic Consulting
    Green Bay WI
    ------------------------------

    Academy - Online Interactive Learning from Experts


  • 3.  RE: Open CRM & Refund Check

    Posted 22 days ago
    Hello John,

    I've received checks in the payables module before as a "return". I like this option because then it shows a full history for the vendor. The issue I have is what do I do with all of the credit memos that are also under that vendor history? I would not want them to remain open.

    Thank you!

    ------------------------------
    Amanda Pezewski
    Prevea Health, Inc.
    Green Bay WI
    ------------------------------

    Academy - Online Interactive Learning from Experts


  • 4.  RE: Open CRM & Refund Check

    GOLD CONTRIBUTOR
    Posted 22 days ago
    By entering the return, you've essentially created another credit and then I'm assuming you entered the cash or check amount to account for the cash and then enter a deposit.  That does leave the credit memo open yet since the credit amount was doubled.  You would still need to enter another transaction such as a Misc Charge to offset the return amount that was entered.  I hope that helps - it is a little difficult to explain.

    ------------------------------
    John Kirsch
    GP Product Lead
    Dynamic Consulting
    Green Bay WI
    ------------------------------

    Academy - Online Interactive Learning from Experts


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