Store Credit

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Gateway Settings (CAS and/or POS)

Users can use Store Credit as an option of payment. In order to activate this option, you must first select it as an accepted form of tender from your payment gateways on CAS and save these settings. Once this is completed, you will want to log into your POS then go to CONFIGURATIONS → SETTINGS → PAYMENT GATEWAYS, choose your gateway which you set up on CAS and everything should populate accordingly. Save

Reports: Sales done using Store Credit will show up on sales reports such as the Daily Sales Summary Report and CAS Sales Reports as "Store Credit".

Note: The system does not maintain balances of store credit transactions - it allows the merchant to use this as a payment type. Tracking, invoicing, collection of store credits must be done using other means.

Why use Store Credit?

Practical uses include using store credit on returned purchases in place of using gift cards or for the regular corporate customers picking up supplies and paying their corporate account on a monthly basis (this must still be tracked/maintained off the system, as this feature only makes available the payment option).

Set Up Store Credit Limit

You can set up the limit for the store credit when adding a new customer or can use Edit Customer for an already created customers.

To set up a limit for store credit, login into CAS --> Transactions --> Customers --> Create/View Customers new

Store Credit Limit: Enter the overall limit amount. 

Transaction Limit: Enter the limit amount per transaction.

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Store Credit Authorization

To Enable Store Credits Authorization, Go to Transaction Settings and Check ENABLE/DISABLE STORE CREDITS AUTHORIZATION.

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Store Credit as Tender (Purchases and Refunds)

The POS has the option of using the store credit as both a payment type or as a refund.

Payment Type Example: Business to business purchases and the customer puts the sale on their "Account" so the merchant can bill monthly

Refund Type Example: Customer returns merchandise and instead of returning funds as cash or credit, offers a Store Credit

Report

Store Credit Report is available and shows the customer transactions with the net amount. Copies of Sales Receipts are also available from the Store Credit Report for additional detail

Customer Transaction History

Pulled from the device or the web portal shows Store Credits by the customer with available copies of the sales receipt.

Store Credit on WinPOS

On the Sales Transaction Screen, if you want to extend in-store credit - Go to OTHER → STORE CREDIT. The sales receipt will say "Store Credit" on the top of the receipt. POS and CAS reports will include In-Store Credit as a pay mode, so the invoices can be sent to those with in-store credit if needed.

 

Create Invoices for Store Credits

Invoicing modules are Add ons to your existing licenses. To set up invoicing and recurring billing your account needs to be enabled.

Please contact support@retailcloud.com to enable invoicing, questions about payment processor support.

To create an Invoice for store credit, follow the steps below:

  1. Go to Transactions → Invoices → Invoices
  2. Click on “+ Create Invoice” to create a new invoice.
  3. Enter the invoice details in the fields provided.
  4. Select 'Store Credit' by clicking on the 'Manual Entry' button, which will list the store credit transactions.
  5. Choose the store credit transaction from the list to generate the invoice.
  6. Click 'Save'.
  7. Select from any of the three options available:  Save: Save the invoice as a draft.
    Save & Send Email: Save the invoice and send it to the customer's email id. (This option can be selected if you wish to send an invoice without payment link)
    Save & Send Email (With Pay Link): Save the invoice and send it with the payment link to the customer's email id.
  8. Click on “View Invoice” to view the invoice you created. Store Credit details will be displayed on the invoice PDF.

Note: Generating invoices from store credit will not create another transaction so that the inventory will not get reduced.

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