Financial Transactions

Sales and Sales Returns

Sales are used to bill a customer for Services, Items and Fees. Sales may be tagged as "Taxable", "non-Taxable" and "Tax Not Applicable". Sales may be paid off by a customer Payment or a Store Credit.

Sales Returns are the preferred method for making a Sales adjustment. Use a Sales Return instead of a Store Credit. Unlike Store Credits, Sales Returns manage the tax portion of the Sales Return to the penny.

Use Sales Returns to make tax adjustments. Create a Sales Return to return Sales that have the incorrect tax and create new Sales with the correct tax.

Sales Returns may be used to reverse either a complete Sale or a partial Sale. A partial Sales Return may be a partial quantity Sales Return, a Sales Return based on a date range or both. If multiple Sales Returns are created against one Sale, BillMax will keep track to make sure that the sum of the Sales Returns do not exceed the original Sale.

If a Sale has been paid off, the Sales Return will cause the Payments and Store Credits used to payoff the Sale to be available for other Debit transactions.

Sales Returns may be automatically created under the following conditions:

1. When executing a Service Change. Future Sales of the existing Service may have an offsetting Sales Return created.
2. When re-opening a Service. Sales for the period the Service was not opened may have an offsetting Sales Return created.
3. When closing a Service. Future Sales of the existing Service may have an offsetting Sales Return created.

Store Credit and Store Credit Reversals

Store Credits may be used to pay off Sales only. Store Credits may not be used to pay off Refunds or Deposits.

Store Credit Reversals may be used to reverse either a complete Store Credit or a partial Store Credit. A partial Store Credit Reversal may a partial quantity Store Credit Reversal, a Store Credit Reversal based on a date range or both. If multiple Store Credit Reversals are created against one Store Credit, BillMax will keep track to make sure that the sum of Store Credit Reversals do not exceed the original Store Credit.

Payments and Payment Reversals

Payment Reversals are used to reverse a Payment. Payment Reversals are not a Refund. Payment Reversals reverse the entire Payment. Payment Reversals are used to debit a customers account for the following reasons:

1. An NSF check.
2. A Credit Card chargeback
3. A payment booked to an incorrect account
4. Any other reason that a customer should not be credited the original payment.

Refunds and Refund Reversals

Refunds are paid off by Payments only. Store Credits may not be used to pay off Refunds.

Refund Reversals are used to reverse a Refund. Refund Reversals reverse the entire Refund.

Deposit and Deposit Reversals

Deposits are used to debit a customer a deposit amount. A Deposit is not considered a sale and is considered a liability. Deposits are paid off by Payments only. Store Credits may not be used to pay off Refunds.

A Deposit is typically collected in exchange for a piece of equipment.

Deposit Reversals are used to reverse a Deposit. Deposit Reversals reverse the entire Deposit.