Cash Sales and Cash Returns: General Information

In MYOB Acumatica, a cash sale is a document of the Cash Sale type, which you create on the Cash Sales (AR304000) form to record a sale for which the payment was made at the time of the purchase—that is, without incurring any liabilities. Cash sales do not affect the customer's balance.

On the Cash Sales form, you can also record a full or partial refund for the items paid immediately by creating a document of the Cash Return type or reversing a cash sale recorded before.

Learning Objectives

In this chapter, you will learn how to do the following:

  • Process a cash sale
  • Process a cash return

Applicable Scenarios

You process cash sales in the following cases:

  • To record a quick sale—a sale for which the services rendered or goods sold are paid immediately by either cash or credit card.
  • To record an invoice that is fully paid (by cash or credit card) at the time of its creation.

Entry of a Cash Sale

You create cash sales by using the Cash Sales (AR304000) form. On this form, you specify details of a cash sale document, such as date, customer, location, payment method, and cash account (if applicable). On the Details tab, you enter one detail line or any number of detail lines. For each detail line, you can specify a particular non-stock item or service.

If the payments of the selected payment method will be processed by a bank, the bank may apply finance charges. On the Charges tab, you can add these charges and specify their particular amounts for the payment.

Cash Returns

You create a document of the Cash Return type to record a return of sold goods, which you refunded immediately by either cash or credit card refund. Also, the system creates a document of this type when you reverse a cash sale. Cash returns do not affect the customer's balance.

You use the Cash Sales (AR304000) form to create and process a Cash Return document.

To identify cash returns, the system uses the numbering sequence specified in the Invoice Numbering Sequence box on the General tab of the Accounts Receivable Preferences (AR101000) form.