Store Credit

June 22, 2021 09:43

Gateway Settings

This allows the merchant to configure payment settings. In order to activate this option, log into your POS then go to Configuration → Payment → Settings, check the box for Store Credit.

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

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 customer.

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.

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

House Account Report

House Account 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.

With this report, merchants can see their store credits and they can mark them as paid.

When we click Mark As Paid it opens up a modal to accept the payment source and remarks. Cash will be selected as the default option. Merchants can add remarks to keep some notes.

Customer Transaction History

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

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:

Go to Transactions → Invoices → Invoices
Click on “+ Create Invoice” to create a new invoice.
Enter the invoice details in the fields provided.
Select 'Store Credit' by clicking on the 'Manual Entry' button, which will list the store credit transactions.
Choose the store credit transaction from the list to generate the invoice.
Click 'Save'.
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 a payment link)
Save & Send Email (With Pay Link): Save the invoice and send it with the payment link to the customer's email id.
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.

House Accounts associated with an Invoice

To view the house account associated with the invoice, select the invoice and click on 'House Accounts' (transaction#). For house account invoices Transaction number will be displayed as House Account or Click on the three dots and select 'View House Accounts'.

Articles in this section