How is third party financing affected if an original order is an exchange or return?
When financing is applied to a return or exchange, the original invoice number is used to determine if the transaction was financed. If so, a calculation is done to determine the maximum refund amount available. This calculation takes into account any other refunds that may have occurred against the original invoice.
When working with a return or an exchange that nets a refund due whose original invoice is an exchange, the system works its way backwards to the exchange’s original invoice (and further, if that original invoice is also an exchange) to determine if the transaction was financed and the refund dollar amount available. This occurs at the time the finance plan is added to the return/exchange.
Here is a sample transaction:
Transaction 1
Sale #88124223
Order Total $1558.70
Sale Item 1: 2@SOFA1
Sale Item 2: 2@CHAIR1
Total Financed $1558.70
Transaction 2
Exchange #88124224
Order Total $0.00
Return Item 1: 1@SOFA1
Sale Item 1: 1@SOFA2
Total Financed $0.00
Transaction 3
Return # 88124225
Order Total -$763.00
Return Item 1: 1@SOFA2
Total Financed Refunded -$763.00
Transaction 4
Return #88124226
Order Total -$1264.40
Return Item 1: 1@SOFA1
Return Item 2: 2@CHAIR1
Total Finance Amount Available for Refund: -$795.70