Pre-requisites:
- Go to Patronage > Refund Rate
- Click New button from the toolbar of the search screen.
- Enter details to the screen:
- Refund Type – the name of the refund rate. Should be unique.
- Description
- Qualified – will determine how 1099 is reported
- Check – the entire refund amount will be reported.
- Uncheck – the cash refund will be reported as well as the equity when paid out.
- General Reserve – the GL account to use for the cash refund.
- Allocated Reserve – the GL account to use for the equity reserved.
- Undistributed Equity – the GL account to use for the undistributed equity.
- Cash Payout – the percentage of the refund amount to be given. The remaining refund will go to the equity.
- Grid Details:
- Patronage Category
- Rate – the number to multiply in the volume of a customer to make refunds (Volume * Rate = Refund amount).
- Click Save button.
Overview
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