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How to enter car insurance refund?

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RINA
1 Post
User
New Zealand
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How to enter car insurance refund?

Hi there,

 

In MYOB, a Car Insurance renewal (for one year) was recorded on 27/08/2015 and GST was claimed.

 

But on 04/27/2016, our company sold its car and insurance was refunded by cheque. 

 

How can I enter this refund transaction in MYOB?

 

Please help me.. we are using AccountRight Premier

1 REPLY
Ultimate Partner Seattle
1,079 Posts
Ultimate Partner
Australia
Accepted Solution Solved Solution

Re: How to enter car insurance refund?

Rina,

 

I would use Receive Money with the same card, same ledger and same GST coding as the payment.

 

Duncan

Duncan Smith
Business Advice + Tax
www.businessadviceplustax.com.au
Helping business owners build a better business since 1998
E expressgst@optusnet.com.au T 02 9904 3672 7 days
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