Returns, refunds, exchanges and losses in accounting

This page, Return, refund, exchange & loss, reads the returns you recorded on orders and adds exchanges and losses. Switch on its part in Accounting settings (one tool slot).

Three tabs#

Returns are recorded on the order itself; see Returns and refunds. Resellable units go back to stock and their cost comes off cost of goods. Damaged and missing units are the Cost lost.

Mark a return as an exchange#

1. 1

   Open the Returns & refunds tab

   Find the return.

2. 2

   Press Mark as exchange

   Search the new order the buyer got instead, by order number, name or phone. You need permission to view orders to search.

3. 3

   Add a note if you wish and confirm

   The value of the returned goods, less any refund, is applied to the new order as credit. No money moves between your accounts; the buyer pays or is refunded only the difference. Sales are counted once.

If the returned value is more than the new order costs, the page tells you to refund the rest separately.

Record a loss#

1. 1

   Open the Losses tab and press Add loss

   Choose what was lost: Goods, Ad spend or Other.

2. 2

   For goods, pick the product and Units lost

   The cost of one unit comes from the product's cost price, or type it. The goods leave your stock.

3. 3

   Choose Paid from an account if money went out

   Then an expense is made for you and linked, so the loss is counted once, in Expenses. Otherwise the loss is counted as a Losses line in profit and loss.

4. 4

   Save

   You see Loss added.

Common problems#

Next#

• Returns and refunds on the order
• Inventory and purchases