Adding a cash clearing account (an account group current asset) to the chart of accounts, is the first of three procedures needed to process a customer refund.
To add a cash clearing account
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Select General Ledger Main menu > Account Maintenance.
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Enter the necessary information. For more information, see Create and Maintain Accounts in Account Maintenance.
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Click Accept.
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Complete the procedure Adjust the Invoice or Credit Memo.
The Cash Clearing account should be credited when the adjustment is made to the invoice or credit memo, and debited when the Accounts Payable refund check is created. The account balance after the refund will be zero.
The cash clearing account is added.
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