Managed IT Services in Central Florida
Credit memos, credits and refunds can be confusing, so we’ve provided information that will help explain the differences and how to apply them. Sometimes, a user enters the wrong type of transaction. If that is the case, you may need to delete the transaction and re-enter appropriately. Note: If you create a credit memo and Read More …
You can track consignment sales made, how much you have paid out to consignors, and see a report of these figures. There are five basic steps to this procedure Set up your consignors as vendors/suppliers and classes Create separate income accounts for tracking the consignment sales Set up the consignment item and tie to the consignment income Read More …
If Needed, Create the Product/Service Items Click the Gear icon, then click Products and Services. At the top, click New, and then choose Service to create a new service item. In the Name field, enter “NSF Check”. From the Income account drop down list, select the bank account the check was returned on. If you Read More …
First, locate the original transaction and make a note on the Account/Product/Service line item(s) being refunded. This is important to complete the remaining tasks. Create a Vendor Credit for the Refund (Accounts Payable Entry) Click the “+” icon and choose Vendor Credit. In the “Choose a vendor” field, Enter the vendor issuing the refund. Enter Read More …