Help
We are trying to make sense of the accounting in MOM. On "sales returns" we see a Retail price total for all items returned and invoiced on a particular day. But not all the returned items were credited back to the credit card since the customer may have exchanged the item.
Example: If a customer returns a $100 pen then orders a $100 hat -it is an even exchange and no credit card transaction is involved.
Mom records the $100 pen that was returned in the "sales return" total.
Does mom then record the $100 hat a new sale in the "sales" total?
Does mom have a report that shows the $100 as a credit that was used for the new order?
Please help.
Thank you
