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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Posting Accounts Setup...
Microsoft Dynamics GP (Archived)

Posting Accounts Setup for Sales Returns

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Posted on by Eri Yamaguchi 1,210

Hello,

I would like to know Sales Returns should be the same account as Sales or should be the unique account. If two different accounts can be registered, is there a priority set up? Our journal entry is messed up because of this setting.

Currently, we set up Sales Returns as two different account numbers.

Posting Accounts Setup>>Sales "Sales Returns" account is same as "Sales".

Posting Accounts Setup>>Inventory "Sales Returns" account is same as "Inventory adjustment".

Please advise me. Thank you in advance.

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  • Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,619 Super User 2025 Season 2 on at
    Re: Posting Accounts Setup for Sales Returns

    You can make Sales Returns account setting whatever you want.  It doesn't have to be the same as Sales.  Whatever account you choose for Sales Returns, make sure it's the same in both Sales and Inventory series.

  • Richard Whaley Profile Picture
    Richard Whaley 25,195 on at
    Re: Re: Posting Accounts Setup for Sales Returns

    Net sales of course is the total of sales made minus sales returned.  Some people want to see the two numbers and do the math in the financial statements while others do not care to know how much or what percentage of sales are returned.

  • L Vail Profile Picture
    L Vail 65,271 on at
    Re: Re: Re: Posting Accounts Setup for Sales Returns

    I'll vote for two different accounts. One for sales, one for sales returns. A firm should want to know the two numbers.

    Kind regards,

    Leslie

  • Eri Yamaguchi Profile Picture
    Eri Yamaguchi 1,210 on at
    Re: Re: Re: Re: Posting Accounts Setup for Sales Returns

    Hello Frank, Richard, Leslie,

    Thank you very much for your reply.

    I understand Sales Return doesn't have to be the same as Sales.

    Is it available to add a new "Posting Account" item?

    Best regards,

     

  • Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,619 Super User 2025 Season 2 on at
    Re: Re: Re: Re: Re: Posting Accounts Setup for Sales Returns

    Could you cvlarify your question please?  Don't understand what you mean 'add a new posting account item'.  Thanks.

  • Eri Yamaguchi Profile Picture
    Eri Yamaguchi 1,210 on at
    Re: Re: Re: Re: Re: Re: Posting Accounts Setup for Sales Returns

    Sorry, I misunderstood.

    Actually, what I want to do is: we use Term Discounts Taken account. When we enter a return transaction, the account will be merged as Accounts Receivable. Term Discounts Taken doesn't show in the transaction distribution. We just want to reverse the same account.

    Sales: Account Receivable $2000(D), Terms Discount Available $50(D), Sales $2050(C)

    Return: Acount Receivable $2050(C), Sales $2050(D)

    How can we set as below?

    Return: Account Receivable $2000(C), Terms Discount Available $50(C), Sales $2050(D)

    Please advise me.

    Best regards,

      

     

  • Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,619 Super User 2025 Season 2 on at
    Re: Re: Re: Re: Re: Re: Re: Posting Accounts Setup for Sales Returns

    Are you entering an amount in the Discount Returned field when processing the return?  If you are, the discount should be posting to the Terms Discount Taken account in the Customer card or Posting Setup window. 

  • Sagi88 Profile Picture
    Sagi88 2,250 on at
    Re: Re: Re: Re: Re: Re: Re: Posting Accounts Setup for Sales Returns

    Hi EY.

    Unfortunately GP does not allow for the specification of payment terms on a Return.

    It is assumed that they are redeemable right away.

    Does your company really need to post the available term discounts?

    If yes this you will need to split the amount manually and enter in the distribution but leaving the type at RECV.

    If not this option can be turned off and the discounts realized when they are taken at cash entry time.

    GP will still calculate this amount and a simple smartlist will be able to give you the potentially unredeemed discounts if you require this number.

    Hope this helps.

  • Eri Yamaguchi Profile Picture
    Eri Yamaguchi 1,210 on at
    Re: Re: Re: Re: Re: Re: Re: Re: Posting Accounts Setup for Sales Returns

    Hi Frank and Sagi88,

     I tried Discount Returned field and it worked.

    I understand GP does not change account automatically on a Return.

    Thank you for your help.

    Best regards,

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