Restocking fees

If you need to account for a restocking fee; then please follow the steps below:

How to account for restocking fees

  1. Set up a new service product called Restocking Fee.
  2. Create a new account code related to stocking fees via Accounting > Chart of Accounts.
  3. Create a sales credit for your customer.
  4. Add the Restocking Fee product to the order.
  5. Choose your new account code in the sales nominal code dropdown.
  6. Insert a negative price value against this line on the credit (ie -10.00 to specify a negative value of $10)


This has reduced the money due back to the customer from £200 to £190. Refund the customer via your chosen payment method, and complete the credit by clicking the green Credit button.

Here are the resulting accounting transactions (in our example the £10 restocking fee is taxable, hence £8.33 against miscellaneous income, and £1.67 for sales tax):



Have more questions? Submit a request