Refunds

Fullick

Hi,

 

When recording refunds that come through the bank feeds, I post into the correct account i.e. Materials, when printing out the BAS the Gross less the GST is different to the Income Amount on the P & L.  What it is doing is treating the refund as income, even though it is going to the correct account and not income.  How can I overcome this.

 

Thanks

Bronwyn

Tracey_H

Hi @Fullick 

 

Thanks for your post. When recording transactions, the type of transaction determines where it will appear on your reports, for example, a Receive Money transaction will result in a value in GST collected (Sales and Income), whereas a Spend Money transaction will result in a value in the GST Paid (Purchase and Expenses) section.

 

Ideally you would be processing refunds through the Purchases Command Centre. These help articles have the instructions on how to do this -

 

Supplier returns, debits and refunds 

Settling supplier debits 

 

Please let me know if you need further help.

 

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