Restocking Fee on Credit memo

Discussion in 'Microsoft Accounting' started by BrianW, Nov 1, 2007.

  1. BrianW

    BrianW Guest

    How can I enter a restocking fee on a credit memo. Say I sell an item for
    $100 and my customer returns it. I create a credit memo and it credits them
    for $100, how can I charge a 10% fee for restock and have the calculation
    done for $10 and the total credit $90.

    Thanks,. Brian
     
    BrianW, Nov 1, 2007
    #1
    1. Advertisements

  2. BrianW

    Lance [MSFT] Guest

    Brian, If you used an item line to record the items sold and retruned, then
    you can set the discount column on each line to 10% or whatever your charge
    is. This will reduce the credit memo by that percentage. The total amount
    for the restocking fee is the column total for the discount column. The
    difference between the invoice and the credit memo remains in the income
    account(s) for your items.

    If you want to record restocking fees to a different income account than the
    the ones used by the items, then add another line at the end of the invoice,
    choose your restocking fee account (or item) set the quantity to -1 so the
    line amount will be deducted from the total, and set the amount for the line
    to the restocking fee amount.

    This posting provided AS IS with no rights or warrenty.



    "BrianW" wrote:

    > How can I enter a restocking fee on a credit memo. Say I sell an item for
    > $100 and my customer returns it. I create a credit memo and it credits them
    > for $100, how can I charge a 10% fee for restock and have the calculation
    > done for $10 and the total credit $90.
    >
    > Thanks,. Brian
     
    Lance [MSFT], Nov 2, 2007
    #2
    1. Advertisements

  3. BrianW

    BrianW Guest

    That's what I was looking for.I was putting in a negative dollar amount
    instead of the negative quantity.

    Thanks for the help

    "Lance [MSFT]" wrote:

    >
    > Brian, If you used an item line to record the items sold and retruned, then
    > you can set the discount column on each line to 10% or whatever your charge
    > is. This will reduce the credit memo by that percentage. The total amount
    > for the restocking fee is the column total for the discount column. The
    > difference between the invoice and the credit memo remains in the income
    > account(s) for your items.
    >
    > If you want to record restocking fees to a different income account than the
    > the ones used by the items, then add another line at the end of the invoice,
    > choose your restocking fee account (or item) set the quantity to -1 so the
    > line amount will be deducted from the total, and set the amount for the line
    > to the restocking fee amount.
    >
    > This posting provided AS IS with no rights or warrenty.
    >
    >
    >
    > "BrianW" wrote:
    >
    > > How can I enter a restocking fee on a credit memo. Say I sell an item for
    > > $100 and my customer returns it. I create a credit memo and it credits them
    > > for $100, how can I charge a 10% fee for restock and have the calculation
    > > done for $10 and the total credit $90.
    > >
    > > Thanks,. Brian
     
    BrianW, Nov 5, 2007
    #3
    1. Advertisements

Want to reply to this thread or ask your own question?

It takes just 2 minutes to sign up (and it's free!). Just click the sign up button to choose a username and then you can ask your own questions on the forum.
Similar Threads
  1. Mark
    Replies:
    2
    Views:
    3,066
  2. brendel

    GL Report Memo Not Same as Transaction Memo

    brendel, Jul 15, 2007, in forum: Microsoft Accounting
    Replies:
    0
    Views:
    353
    brendel
    Jul 15, 2007
  3. Michael

    Restocking fee

    Michael, Sep 17, 2005, in forum: Microsoft Point Of Sale
    Replies:
    2
    Views:
    361
    Michael
    Sep 19, 2005
  4. Mark

    Restocking fee for return item (Opened or damaged)

    Mark, Aug 30, 2007, in forum: Microsoft Point Of Sale
    Replies:
    2
    Views:
    1,326
  5. W
    Replies:
    2
    Views:
    868
Loading...

Share This Page