Improved the accounting functionality to track for accurate sales & returns so we know profitablity
The issue we're facing now is if Gross Sales are recorded in October and we reconcile all our accounts in QB's to those gross sales, and a refund, say is made in January for the sale in October, the sales report in 1SC changes for October (well after it's already been reconciled). The way this impacts your customer is that the reports are now understating sales in October (because they are now recording refunds in January, which are not accurate for October) and overstating sales in January for the NEW fiscal year. This is an accounting nightmare, and should be fixed if 1SC wants to lead in the industry. Refunds in future months, should be captured in the month as a negative sales in that month - NOT reduce sales in the previous months. All other accounting programs work this way, and 1SC should adopt this method if it's going to be taken seriously.
Furthermore another issue is that if someone purchases 12 units of something and returns 4 units, there is no way to record the refund for the 4 items. If you refund in 1SC, there is only one option and that is to refund the entire line item of 12 units. The only way of refunding the customer for the 4 returns would be through authorize.net or another program. Either way, your gross sales report would be inaccurate in 1SC. If the customer refunded the entire line item - it would show a refund of 12 units - and reduce sales by that much, which would be inaccurate. . . if they didn't refund in 1SC but outside of it, it would include gross sales of items that have been returned and reduced in bank balance. Either way, if 1SC is a one stop shop for gross sales, you need to improve your accounting features so people don't need to go elsewhere, because as it is now, reports are not accurate.