Skip to content
logo Knowledgebase

Record a supplier refund

Created on  | Last modified on 

Summary

How to record a refund received from a supplier in Sage Accounting. This helps you match refunds correctly and keep balances accurate.

Description

Suppliers can refund you for overpayments, returned goods, or corrected invoices.

How you record the refund depends on whether you have a credit note, a payment on account, or a bank feed transaction.

Use the method that matches how the refund appears in your records.

Resolution

▼ Match a supplier refund from a bank feed

If you use bank feeds, you must match the refund to an existing credit note or payment.

  1. Create the supplier credit note first.
  2. Select Banking, then select 'XX' Transactions.
  3. Find the refund transaction and select Match.
  4. Search for and select the matching credit note.
  5. Select the checkbox, then confirm the match.

Sage Accounting creates the refund automatically.

▼ Enter a supplier refund manually

If you use bank feeds, you must match the refund to an existing credit note or payment.

  1. Create the supplier credit note first.
  2. Select Banking, then select the relevant bank account.
  3. Select the New Entry dropdown, then select Sale / Receipt.
  4. Select the Supplier Refund tab and complete the refund information.
  5. After selecting the Supplier, you'll see the outstanding transactions.
  6. Select the credit note and ensure the Left to allocate is 0.00.
  7. Select Save.

Sage Accounting creates the refund automatically.

▼ Refund a payment on account partially

To issue a partial refund for a payment on account, see process a partial refund.

▼ Refund a credit note directly

Use this method to refund the full value of a single unpaid credit note.

You can’t refund part of a credit note.

  1. Go to Purchases, then Purchase credit notes.
  2. Open the relevant credit note.
  3. Select Record Refund.
  4. Confirm the amount, date, bank account, and payment method.
  5. Select Refund.

Related Solutions