| Tax Rate Change for Quebec |
If you are registered to collect tax in the province of Quebec, you should already be aware that the QST rate increased to 8.5% effective Jan 1, 2011. The rate will further increase to 9.5% on Jan 1, 2012. To change the tax rate in Sage MAS 90 / 200, go to Library Master | Setup | Sales Tax Code Maintenance and update the rate in this screen -- keep in mind that the rate needs to be updated on all relevant tax classes. For further information, please click on this link to access the Quebec government website.
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| How to Process a Customer Refund |
A common support question is how to process a customer refund in MAS. This process assumes that the customer has a negative balance as shown in the Customer Inquiry screen.
- Enter a $0 cash receipt in Cash Receipts Entry. For tracking purposes, enter the cheque number of REFUND on the header tab of the Cash Receipt Distribribution window. On the Lines screen of the Cash Receipt Entry task, add a 'GL Distribution' line and post the refund amount as a positive amount to a GL account (for example, Suspense or Customer Deposits). Enter all of the invoices that you want to apply against this refund amount. When you are finished, the total distribution should be $0.
- Issue a cheque (manual or automated) through Accounts Payable to the customer. The customer is probably not set up as a vendor. You can set them up as a vendor, or you can use the NOF vendor (which stands for Not On File). Many clients prefer NOT to use the NOF vendor because of the confusion of tracking this payment in the future -- this is a personal preference. When posting the invoice, use the same GL account that you used in step 1 above. The amount would be posted as nontaxable.
- After both the AR and AP sides are posted, the net posting to the GL in the Suspense or Customer Deposits account (or whatever account you used) should be $0.
The help screen in MAS suggests posting the customer refund as a credit memo rather than the cash receipt approach. Our preference is to use the Cash Receipt approach so that the analysis figures for 'year to date sales' in the customer inquiry screen are not affected.
Try this out in your test company! |
