Re: [SL] Refund Checks

[C. D. H. <Du...@Du...>]

Mark Bucciarelli wrote:
> On Sat, Nov 25, 2006 at 07:47:09PM -0800, Dave Snell wrote:
>   
>> --- Dr Eberhard Lisse <el...@li...> wrote:
>>
>>     
>>> End of year, actually.
>>>       
>> So just so I'm clear, good Doctor, I should create a
>> bogus vendor record and accompanying AP transaction so
>> that I can issue my refund check.  Then throughout the
>> year - as I continue to statement my customer - I
>> should just wink and say "just ignore this
>> transaction" we'll take care of it at the end of the
>> year.  And then come the end of the year I should do
>> what again?  Sorry if I'm being slow, I guess I just
>> expect an accounting package to handle some of the
>> basic accounting transactions for me.
>>
>>     
>
> Can't you create a holding account and enter a G/L transaction so
> the customer account is correct?  Then use A/P against this same
> holding account to generate the check?  Externally all is
> copacetic and you just need to reconcile that holding account at
> year end.
>
> Hopefully, you don't cut that many refund checks in a year.
>
> Yes, it is awkward.
>
> Yes, you have found an area that doesn't work well.
>   
I think doesn't work well is a bit of an understatement!  You'd still 
need to create a vendor to match the customer record, wouldn't you?  
It's not pretty, but here's what I do:  I print a customer receipt to a 
check template (that gets, unfortunately, listed on the stub as 
'prepayment'), then I negate the payment amount and post it to the 
customer's account.