Summary
Processing a refund in Sage Accounting if the customer overpaid or returned goods.
Description
How this works
- When importing bank transactions, you can only match the refund to an existing credit note
- If you have the credit note, enter the refund and match it
- For an overpayment refund, enter and match it to the payment on account
- For a cash sale refund without an invoice or credit note, use the Refund for Sales option. Read more on Enter money out as a cash refund
- If you use the Cash Accounting scheme, the refund shows on your next VAT return