The refund could be for:
- A supplier where you haven't received an invoice or credit note
- An expense or purchase that's not from a regular supplier
How this works
To help reduce errors, we set up Ledger accounts so they can only be selected for certain types of transactions. For example, you might only want to be able to select expense ledger accounts on payments.
We also normally only allow you to choose a supplier when recording money out.
Using the refund option allows you to:
- Create a money in transaction for a supplier
- Select an expense ledger account for the refund without having to change the visibility setting on the ledger account first
Record money in for a cash refund
- From Banking, choose the relevant bank account.
- Select New, then Sale / Receipt.
- Choose Other Receipt, then the Enter a refund for a purchase link.
Enter the details of the transaction you want to reverse.
You must specify the:
VAT rate and VAT, if applicable
If the refund was for several items relating to different ledger accounts, or with different VAT rates, enter these on separate lines.
Don't forget, the total value of all the separate lines must add up to the total values of the refund.
- Select Save.
You’ve successfully recorded your payment and it appears on the list of transactions for the relevant bank account.