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a week ago
Hi. A customer has paid me in error (should have been a different supplier), this is showing in my bank feeds. I transferred the money back to them via my bank but this transaction has been returned to me. I now have 2 deposits & 1 withdrawal in my bank feeds.
How can I clean this up for lodging my BAS?
Thanks for you help
a week ago
When a customer overpays you, this transaction must be completed manually through Customers - Receive Payments. You cannot use Bank Feeds to do this. When in Customers - Receive Payments there is a tick on the bottom left "Include Closed Invocies". Find out which invoice was overpaid (it will be a zero one at the bottom) and allocate (force) the dollars in beside this paid invoice. When you click on Record you will receive a warning that this will result in a Credit and you can click on OK as this is correct - the Customer is in credit.
You will now see a credit in the Returns & Credit window in the Sales Register which you can use to either repay the Customer or allocate to another invoice.
Hope this helps.
Hi Jenny. Thank you for that info. The customer actually didn't overpay an invoice. My point I was trying to get clarification on was that the transactions are showing in my bank feeds and there are 2 credits (they gave me the wrong bank account details and the refund bounced back to my account again) and 1 debit from me trying to refund their funds.
I take it I will need to complete this process twice for the 2 credit transactions and then process 1 refund until the second payment shows as leaving my account?
The way I see your enquiry is that you have 3 individual transactions:
As such, the way I would record those transactions would be as follows:
Personally, I would be recording the above against a $0.00 invoice for the customer i.e. go to Sales>>Enter Sales>>Select the Customer and then Record. If you are using a $0.00 invoice do make sure that you select the option Include Closed Sales in the Recieve Payments window and that when recording you don't have a value in the Finance Charge field (bottom right).
What the above process will do is show that you have a deposit for the original payment amount (1), a reversal of that payment thus creating a withdrawal (2) and the payment redone for the deposit amount (3). You can then select the match the relevant bank transaction with the relevant payment.
Also the above process will leave you with a credit note for the Customer, which can be seen in Sales>>Sales Register>>Returns & Credits tab. From within here you can apply to an invoice or pay a refund on it depending on the circumstances with the customer.