Store Credit/Refund Slips

A refund is given when a customer returns merchandise previously paid for and we give them back their money.

A store credit is given when a customer returns merchandise previously paid for and exchanges it for other merchandise immediately or at a later date. We do not give them any money back.

There is no difference between a refund and a store credit for sales stats (see policy regarding refund/store credit stats.) There is some difference in how they are written.

Start a sales slip, and enter the stock number of the item being returned. A window will appear to tell you that item has already been sold. Okay that message. Another window will appear asking you if it is being returned. Answer yes. The item description appears and the retail price appears as a negative number in the price box. Change this number to the amount the item originally sold for, not including sales tax. Select the form of payment by which it was originally paid, and select either end line tax or no tax, depending on whether or not the original sale was taxable.

If there is more than one item, enter the next item the same way. End the slip.

For a refund: In the payments window, put the amount we are refunding the customer in the appropriate box as a negative number. If they are getting a refund by American Express, put a negative number in the American Express box.

For a store credit: In the payments window, put the amount of store credit we are giving the customer in the box named, “previous deposit/store credit” as a negative number. If we are giving a partial store credit and partial refund, put the appropriate amounts in those boxes.

Make sure the printed invoice states clearly whether it is a refund or a store credit and write it on there if it does not. Be sure to write how the store credit was originally paid or how the refund was paid to the customer.

The refund or store credit is written on a separate sales slip. It is never written on a slip that also contains a sale.

RULES FOR PAYING OUT REFUNDS:

Refunds are ALWAYS paid to the customer the way the customer paid us EXCEPT FOR CASH. If the customer originally paid by a Citibank Visa card, we can only refund their money by crediting THAT CARD. If they paid by check, we can only refund by check. If they paid by cash, we can still only refund by check. NO REFUND IS EVER, EVER PAID BY CASH.

NO REFUND FOR A SALE ORIGINALLY PAID BY LOCAL CHECK WILL BE GIVEN UNTIL TWO WEEKS HAVE PASSED. OUT OF STATE CHECKS WILL NOT BE REFUNDED FOR FOUR WEEKS. THIS INCLUDES CASHIERS CHECKS. This is to ensure that their check clears first! All other refunds can be paid immediately.

A SALE MUST BE REFUNDED IN FULL IN ORDER FOR US TO RECOVER THE SALES TAX PAID TO THE STATE. If you give a partial refund, we can’t get any of the tax back. Keep that in mind when you figure the amount of refund to give. In other words, if you only want to give back $1,000 of a $1,200 sale; don’t give back $1,000 plus tax because we won’t get that tax back from the state.