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Steps:
- Go to Patronage > Process Refunds.
- Click New from the Search screen toolbar.
- Select a Fiscal year to process. After selecting a fiscal year, the system will calculate refunds for each customer from the collected volume in the specified year. Refunds for a customer can be computed twice with respect to multiple times based on the number of refund rates.
- Details
- Customer Refund Type – summary of refunds for each customers
- Refund Type – summary of refunds classified by refund type
- Fiscal Year – summary of refunds for the selected fiscal year
- No Refund – summary of refunds that are not eligilbe. A refund is not eligible if the refund amount is less than the Minimum Refund or if the Stock Status of the customer is not qualified for refund
- All Patrons - all patrons, regardless of voting status, will be used in the refund calculations.
- Stockholders - Only Non Voting and Voting stockholders will be included in refund calculation
- Voting Only - only the voting stockholders will be included in refund calculations.
- Details
- Post the refund transaction. GL entries will be made. After posting, equity refunds will be accumulated. This can be checked in Patronage > Equity Details.
- To create a voucher for a refund, select refunds to voucher and then click Voucher from the toolbar. Take note that the created voucher will be posted.
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