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I have received a payment through PAY PAL for a customer who has paid for an invoice say $100. The money has then come off the invoice and the fees paid appropriately, everything all fine to this point.
We then find the product is not in stock and we issue a credit note for $100... we then instruct PAY PAL to refund the customer his $100 (disregard any fees). The $100 now shows it has come from our bank account to PAY PAL and we now have a customer with a credit note of $100... I cant get my head around as to square it all off. It should not be that hard.. i thought i could put the customers credit into a contra account and then take it out of the contra account to pay PAY PAL... but I end up with -$200 in the contra account...
I am confused can someone please assist.
You have missed a step in this process. Once you have created the credit note go to your sales register, click to returns and credits and the credit note will be sitting there. Highlight it and then use the Pay Refund at the bottom left of that screen. this will open a screen that says pay from etc. use the dropdown to select your paypal account. You then need to go back to your sales register and delete the open invoice from your register.
OK. I seem to be still confused or something missing...
I have made out an invoice, and then invoice was paid through PAY PAL and that is OK, so the tax invoice to my customer is complete
.... But he needed a refund as the goods were no longer available..so we created a credit note and the refund was taken from our bank acct by PAY PAL... As you say I have then gone to pay refund and on the drop down i have put PAYPAL Acct and now the -$100 is now showing in the pay pal acct... (1-1145) but i do not have an open invoice.... All I have is a credit note showing -$100... something is missing, and I cant put my finger on it...
Can you offer further assistance?
The final payment is, as you say, from Bank to Paypal. not from your PayPal account.