When selling items there may come a time when you need to either take or refund a payment as well as apply restocking feed. Please see below for the steps on how to do so.
When you navigate to the Manage Sale page, you will see an array of options related to the sale. This includes the Payment/Refund link. This page allows you to view the payment history for the sale, take payment, or give refunds.
When you click the link, you will initially be taken to the below screen. This gives you three options - Take Payment, Give a Refund, and Apply a Restocking Fee. They will each give you limited actions to take, but you can view the payment history for the sale on all three.
There are some similarities to the page each link takes you. It will look like the one below, with the location information at the top of the page, followed by the Applicant and CoBuyer Information, and a list of the items on the sale.
Below that, you will see the full payment history for the sale. Below is a description of each column in this section, and what it means.
Date: This is the date the transaction was made. All transactions will be listed from oldest at the top to newest at the bottom.
Receipt #: When you make a payment, refund, or charge a restocking fee, you will be given a receipt for both your records and the client's. The number of the receipt will be listed here, in case you want to reprint it at some point in time.
Amount: This is the amount that was either taken from or given to the customer. If the number has just the dollar sign then this is a positive number, meaning that the customer gave you money. If the number has a dollar sign and parentheses around it then this is a negative number, meaning that this is money you gave the customer.
Transaction ID: If you took a credit or debit card payment using EZ Charge, Worldpay/Vantive will return a transaction ID for tracking purposes and to confirm the card was charged on their systems. The transaction ID will be recorded here.
Type: This lists the type of payment that was taken. If a card payment was made, it will list the type of card (such as Master Card, Discover, etc).
Balance: This is the balance after the payment or refund is made. If the number has just the dollar sign then this is a positive number, meaning that the customer owes you the remaining balance. If the number has a dollar sign and parentheses around it then this is a negative number, meaning that you owe the customer the remaining balance. If the number is 0, then there is no money owed by either party.
Notice: This records what employee took the recorded action.
Below the history of the payment is the status of the payment. This will indicate if there is still a balance if all funds are accounted for, or if the sale is paid off.
After the sale information, payment history, and payment status, the fields will vary depending on what action you are trying to take. Each action page is described in further detail below.
Payment:
If you chose Payment from the initial page, then you will have all the fields described at the beginning of this article, plus the ones in the image below.
- Amount.: This is the amount the customer will be paying. If the customer has Store Credit on their account, then the amount they have will show here. This allows your salespeople to make sure they are offering the correct payment to their customers.
- Payment Type: Here you can choose how the client will be paying. (Note: If they choose certain payment types like Checks, there are fields next to the Payment Type fields to fill out the Check Number and other details. )
- If the customer has chosen to finance the sale, you will use the Co Code and Approval From Fin Co fields.
- LWY Balance: The field is the auto-calculated amount that the customer will still owe at the end of the transaction. If the number has just the dollar sign then this is a positive number, meaning that the customer owes you the remaining balance. If the number has a dollar sign and a dash in front of it then this is a negative number, meaning that you owe the customer the remaining balance. If the number is 0, then there is no money owed by either party.
To take the payment, click the Submit button at the bottom of the page.
Refund:
If you chose Refund from the initial page. You will be presented with the following screen.
- Refund Amount: This is where you will enter the amount that you wish to refund. To the right of the field, you will see the Total Amount Paid, this is the total amount that has been paid and can be refunded. (For example, if the customer paid $400 and was refunded $150, then the number will be $250, not $400.)
- Refund Type: This is where you will choose the method of refunding the customer. For example, if you are refunding a card using World Pay then you will choose Ez Charge Transaction. (Note: If you choose Store Credit, then you have a field to fill out the reason why they are getting store credit.)
- LWY Balance: The field is the auto-calculated amount that the customer will still owe at the end of the transaction. (Note: If the number is positive, this means that the customer owes you the remaining balance. If the number is negative, this means that you owe the customer the remaining balance. If the number is zero, then there is no money owed by either party.)
- Actual Amt Refund: The field is the amount being refunded to the customer during this transaction.
To complete the refund, click the Submit button at the bottom of the page.
Apply Restocking Fee:
There is only one field to fill out here, the Restocking Fee amount. This cannot be more than the amount of money already paid by the customer.
- New Balance: is an auto-calculation of the new balance on the sale. If the customer already owes money on the sale, then the Restocking Fee will be added to it. If the sale was paid off, the Restocking Fee will increase the balance from zero to the amount of the fee. If the store owes the customer money, then the amount of the Restocking Fee will be subtracted from the amount to be refunded to the customer.
To apply the Restocking Fee, click the Submit button at the bottom of the page.