Have you ever received an overpayment you have been asked to refund back via a check? After the receipt was processed and revenue recognized? Normally a voucher would post to an expenditure account, however, since the original overpayment was credited to a revenue account, you would want the refund to reduce revenue. We have had several customer inquiries of late concerning this issue and want to share how easily OpenRDA handles this process!
While the default in the system for creating a voucher is to increase an expenditure account, one step is all that is needed to reduce revenue instead. When creating a direct voucher, you will enter information the same way as you normally would, the only difference is making sure you select Account Type of Revenue rather than Expenditure.
Other than that, there are no additional steps. You will still assign check numbers, distribute, clear, and post all the same way as you normally would if the voucher was hitting expense. If you have any questions about this process, please give us a call or submit a helpdesk ticket, we will be happy to assist!