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March 2016 - last edited March 2016
A batch of supplier payments were uploaded twice and paid twice in MYOB. Each supplier that was overpaid was contacted and each supplier refunded the overpayment.
What is the correct way to record this in MYOB to keep everything neat.
I have Accountright Premier V19
Solved! Go to Solution.
There are a few ways this can be done but the best would be to do a negative purchase for the amount paid, details can note that supplier was overpaid, alloaction account will be the bank account (coded not reportable), say okay to the warning, date the negative sale the date you made the payment.
This will get the withdrawal into your bank rec for reconciling.
When the supplier refunds the money, go to your purchases register>returns and credits, highlight the supplier and choose receive refund. Date it the day they sent it back to you and all should be good.
This way you can keep a 'handle' on who has not refunded, and if they may just be keeping the money towards outstanding invoices, in which case you would then choose apply credit, and then apply it to the invoices they applied it to.
Thanks very much Julie - thats a logical solution that we will use