How do I handle "in store credit" on a cash register?

Question

Hi all,We have a retail yarn store and occasionally a customer will return yarn they have purchased. We don't give cash refunds but do give store credit in the form of a hand written receipt with the amount of credit noted on it.I have wracked my old brain to try to figure out how to handle it on our cash register  (which is new to us) in such a way as to keep both the money and, equally important, the inventory, up to date.  With the written receipts I feel that the inventory is not dealt with correctly (in fact the $$ isn't either).There must be a better way.Thanks very much,Perk (:>)

Laura · Accepted Answer

You should be issuing a credit memo to the customer. You'll have to look at your register's documentation to see what the correct key strokes are

-- you don't say which POS system you are working with...

Perk · Answer

Thanks for the quick response,As I see it that's essentially what we have been doing since we do give the customer a numbered receipt with all the numbers etc on it (we have the duplicate) which they bring back and receive their credit whenever they desire.At this point no key strokes are used on the register (Sharp XE A203 - not a true POS, just a cash register) since I don't know how to set it up within QB (Pro 2008). I suppose I should really enter them into QB by hand but there must be an easier way.Thanks again,Perk (:>)

Laura · Answer

Yes you should be entering them in to QB. Since you are not using a POS system then you will need to enter the credit memo and their redemption into QB by hand.

How do I handle "in store credit" on a cash register?

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