Refund

[Former Member]

i want to refund any line item what should i use FP50 or FPY1 and what is the difference between them?

[Former Member]

If you have set up the payment method for outgoing payments then use FPY1 which will use the payment run to do the refunds. You can use it in combination with the cheque management functionality to print the cheque also out of FI-CA or you can use your existing A/P process to cut the cheques from FI. It depends on your requirements there.

FP50 is used in insurance for when an agent issues a cheque and it is then entered into the cheque lot and compared against the details of the cheque sent by the bank. It is used to make manually issued checks available for processing in the system, you have to enter and post these checks in check lots for manual outgoing checks

I hope you found this response helpful or correct.

[Former Member]

Hi Kashmir,

                     Means for any line item if i set outgoing payment method then i have to use FPY1 for refund?

FP50 is manual activity or it can be used in mass also as FPY1 is mass activity? please tell me more about FP50 it not clear from above example.

[Former Member]

Yes with an outgoing payment method being set you will use FPY1 to do the refund.

For FP50 you use it if you have someone in the organization who manually writes a (refund) cheque to a client/ customer. The cheque details are entered using FP50 and will be compared against the details of the cheque when the bank clears it.

I hope you found this response helpful or correct.