Anyone got a better way of processing customer refund than raising an invoice and doing a bank adjustment to correct the GL?
RMA Process? Credit Memo? Correction Invoice?
What I am trying to achieve is to save the need for multiple transactions to do one thing. I am talking about refund against overpayment or credits. A credit memo would only increase the customer credit on account and if I raise an invoice I then have to do bank adjustment to correct the GL and adjust the bank balances. It is not normal accounts practice to raise invoices to clear credit balances as the refund should should cancel this out if there was a away to get it on the customers account.
There are the options of a Adjust Cash Receipt and Write off - Adjustment of an AR invoice as well.
Not well versed on the financial side, hope it helps…