Question - I showed GL impact of a cash refund and...
# beginners
k
Question - I showed GL impact of a cash refund and was advised:
there is an entry missing to record the payable and expense, there should also be a cr to ap and dr to refunds, and then the cr to cash gets applied to the open AP to close it out
^ Is this something handled from just the cash refund side, it sounds like this is a full flow rather than a single transactions GL impact
s
when you refund something, it debits the income account on the item record. if you want to debit the refunds accounts you will need to install a bundle #318158 - Sales return accounting. look at SA and see if it does what your accounting team needs
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k
Thank you very much, I will review this bundle.