Managing Refunds and Cashbacks

This guide gives you a quick overview of how to handle refunds and cashbacks in the Fennom Accounting system. By following these steps, you’ll make sure these transactions are correctly entered and categorized, so your financial records stay accurate.

Step 1

If your business gets a cashback or refund from a supplier, you can record it in Finom Accounting. When the system picks up on the refund based on payment details or past transactions, you’ll see a special refund icon in your records.

Step 2

If the system labels a transaction as a refund by mistake, you can switch it back to a regular transaction.

Step 3

When you add a document, the system checks if it’s a credit note or if the invoice mentions a product return or cashback. If it recognizes that, it’ll adjust the type automatically. If it doesn’t, you can always change it yourself. Until you mark it as a refund, it’ll show up as income, and you’ll see income-related categories.

Step 4

If the system doesn’t recognize that it was a refund, but you know it was money returned by a supplier, you should use expense categories. To do this, switch the transaction type to Refund using the switcher. After changing the transaction type to Refund, you will see an updated list of categories.

Step 7

The system will remind you how important it is to get the type right. Once you update it, you’ll get a confirmation and see a different set of expense categories.

Step 8

Now you’ll see expense categories, and for the bookkeeping to be correct, you should pick the same category as the original expense. For instance, if you first paid 30 euros under subcontracting, the refund should use that same category.