Refund Process for AR
a. Run 'Create Automatic Receipts' - this program will create the receipts for the transactions.
b. Run ' Create Receipt Remittance Batch' - this program will create the remittance batch to be interfaced to bank.
c. Run 'Create Settlment Batch' - this program will interface the file to bank based d. Reconcile the Bank statement lines with the receipts.
e. Next day negative bank statement lines are received
f. Query the receipts and 1st Unapply the transaction g. Create a Refund on the receipt - this will automatically create an AP Invoice h. Make payment for the AP invoice i. Reconcile the negative bank statement line with the AP Payment line.
The above steps ensures that all the bank statement lines are reconciled with correct accounting.
a. Run 'Create Automatic Receipts' - this program will create the receipts for the transactions.
b. Run ' Create Receipt Remittance Batch' - this program will create the remittance batch to be interfaced to bank.
c. Run 'Create Settlment Batch' - this program will interface the file to bank based d. Reconcile the Bank statement lines with the receipts.
e. Next day negative bank statement lines are received
f. Query the receipts and 1st Unapply the transaction g. Create a Refund on the receipt - this will automatically create an AP Invoice h. Make payment for the AP invoice i. Reconcile the negative bank statement line with the AP Payment line.
The above steps ensures that all the bank statement lines are reconciled with correct accounting.
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