I use an outside system to manage sales and I followed the steps in this article here to record daily sales. The sales receipt setup works great except for one issue. It does not cover refunds. Can i add a refunds section onto this daily sales receipt? If i give a refund either in cash or card and i do not make enough in the corresponding payment type to have a deposit after accounting for the refund then how do i show a refund being taken from either my Cash on hand account (register) if it was a cash refund or my checking account if it was a card refund? below i will give an example of what I am talking about
Example A) sales cover the amount of the refund given in the corresponding payment type and still have a deposit. there is no issue here. I just record the net sales and net card/cash payment into my daily sales receipt which account for the refund and i don't have to show a draw from my bank account
Gross Sales: 100.00
Gross tax collected: 10.00
Refunds: -55.00
Net Sales: 50.00
Net Tax collected: 5.00
Debit card Payment: 110.00
debit card refund: -55.00
Total Deposit: 55.00
Example B) refunds given exceed the amount in sales of the corresponding payment type and create a draw from the account and I don't know how to enter that into my daily sales receipt. so it shows a draw and adjust my Cash on hand account (register).
Gross Sales: 0.00
gross tax collected: 0.00
refunds: -50.00
Net Sales: 0
Net Tax collected: 0
cash Payment: 0
cash refund: -50.00
Total cash Deposit: -50.00
