The following will show you how to make a Credit Memo without Inventory Impact, select that Credit Memo in Receive Payments and then make a Bank Deposit via Undeposited Fund.

  1. Create a Credit Memo without Inventory Impact.
    1. Sales > Activities > Invoices 
    2. Click New to open new Invoice screen.
    3. In the header,
      1. Set Type field to Credit Memo.
      2. Select customer in the Customer field
    4. In the grid area, 
      1. Select an item to return in the Item No. field
      2. Type in qty to be returned in the Shipped field, ex. 20.00
    5. Since this is a credit memo without Inventory Impact, uncheck Inventory Impact checkbox. This means that posting this transaction will not impact Inventory and COGS account.
    6. Click Post.

      1. GL entries for Credit Memo are as follows. 
  2. Select Credit Memo in Receive Payments screen 
    1. Sales > Activities > Receive Payments
    2. Click New to open new Receive Payments screen.
    3. In Details tab > header,
      1. Select customer in the Customer field
      2. Select payment method in the Payment Method field, ex. Cash.
    4. In the grid area, 
      1. Select the Credit Memo transaction created in Step 1
    5. Click Post.


      1. GL entries for Receive Payments are as follows:

      Note:

      Credit Memo already selected in Receive Payments, whether posted or not yet posted, can't be processed anymore to Cash Refund.

  3. Make a deposit for the Receive Payments where credit memo is selected.
    1. Cash Management > Activities > Bank Deposits
    2. Click New to open new Bank Deposit screen.
    3. Click Undeposited, and look for the Receive Payment transaction. 
    4. Select that transaction and click OK.
    5. Click Post.

      1. GL entries for Bank Deposit via Undeposited Funds.
    Here is the Credit Memo already selected in Receive Payments and Deposited.
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