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Community Contributor **

How to handle a return / exchange?

Hi, 

I sold an item to a customer for (using arbitrary figures) $400 and he now wants to return the item and exchange it for a $600 item. He has already paid. 

I need to:

return the item to inventory 

No refund needed since the item that he is exchanging for is more expensive. 

Create a new sale order and charge him the difference



What is the best way to handle this? 

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Best answer 12-10-2018

Accepted Solutions
Established Community Backer ***

given that there is an amount due, this can be done using...

given that there is an amount due, this can be done using just an invoice - no c/memo needed - by entering the return quantity as a negative and the new item on the next line as a positive

6 Comments
Established Community Backer ***

given that there is an amount due, this can be done using...

given that there is an amount due, this can be done using just an invoice - no c/memo needed - by entering the return quantity as a negative and the new item on the next line as a positive

Established Community Backer ***

"by entering the return quantity as a negative and the ne...

"by entering the return quantity as a negative and the new item on the next line as a positive"

I used to do things that way; then I realized that in Transaction reports and in the Customer transaction listing, everything shows as 0, and you have to Open it to see what was the Actual sales info. And by having Credit memos, I know that involved a Return.


Established Community Backer ***

"return the item to inventory" Customer Credit Memo. List...

"return the item to inventory"

Customer Credit Memo. List the item and the Amount you agree to accept it back.

"since the item that he is exchanging for is more expensive."

New Invoice..

"Create a new sale order and charge him the difference"

New Sales = New Invoice. Apply the Credit Memo to the open balance; they still owe the difference.


Not applicable

Re: given that there is an amount due, this can be done using...

I have an almost identical problem, although I would like to use the situation you put forth in this post. When I create a new order with the negative item (valued less than the new item), quickbooks automatically changes the negative to a positive when the document is saved. Is there a company setting that allows negative quantities to be entered on documents?

 

 

Established Community Backer ***

Re: given that there is an amount due, this can be done using...

@Aaron29

 

Why are you using a Negative anywhere? You make a Credit Memo (customer return) and there is no Negative entry anywhere. Then, you are either refunding that value or applying it to their Next order.

Established Community Backer ***

Re: given that there is an amount due, this can be done using...


@Aaron29 wrote:

 When I create a new order with the negative item (valued less than the new item), quickbooks automatically changes the negative to a positive when the document is saved. Is there a company setting that allows negative quantities to be entered on documents?

 

 


No there is no setting required.  I have not seen such behavior.

Just enter one negative, in the amount. 

Also clear cache

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