Negative Receipts

How do you apply or get rid of the negative receipts?  We have customers that return products, then the return is on their account as an outstanding credit.  We then issue a refund on their credit card and enter a negative receipt in GP to offset this.  The customer's balance is now $0.00 but the problem is the return and the negative receipt remain open because we can not apply the negative receipt to the return.  What is the best method to clearing the account of the negative receipt and the Return? 

  • In reply to Victoria Yudin:

    Hi Victoria,

    Thanks so much for your help.  I read your blog all the time, I missed that post somehow.  I have one more question for you.  I'm new to GP, what is an alternative for using negative receipts.  They are not easy to clear and we process about 25 negative receipts a day.  Before the negative receipt option was available, how were the cash back/refunds processed in GP?  Your help and any others who respond will be greatly appreciated.  I am trying to present an alternative to our controller and he is very detail oriented. 

    Oh and for inventory purposes, all our returns are created through the Sales Transaction Entry window where there is no option to credit the accounts as in Receivables Transaction Entry>Returns.

    Chastity

  • In reply to chastity:

    Chastity,

    That was actually a new post. Smile This question has been coming up more and more recently, and when I saw your question, I thought it was time to do a little write up on it.

    The alternative is a return transaction with the amount returned to the customer entered on it. When you enter a Return on the Sales Transaction Entry window, you can use the Amount Received for the amount you are giving back to the customer. This will work the same way as Returns on the Receivables Transaction Entry window. 


    Victoria Yudin, Dynamics GP MVP 2005 - 2014

    Blog: Ramblings and Musings of a Dynamics GP MVP

  • In reply to Victoria Yudin:

    THANK YOU ! ! Just what we were looking for.  It was right in our face all along.

    I'm so excited.  I have over 200 negative receipts to clear and now I know that I will not have any more.

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