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Supplier Purchase Amount Returned

powerette

Hi,

We ordered a prepaid item from a supplier which we paid. The arrival date for the item kept changing, so we cancelled the order. We paid and reconciled the original invoice which was over a month ago. We then requested a refund which has just been given.

What is the best way to action this?

Thank you.

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Accepted answers

Tracey_H

Hi @powerette

Ok so now that the reversal is in the Returns & Debits tab, highlight it and click on Receive Refund:

The Settle Returns & Debits window opens, make sure the bank account is correct and change the date to the date the refund was deposited into your bank account. Click on Record:

If you use bank feeds, go to Bank Feeds window and you'll have that refund transaction to match with the bank feed transaction:

Please let me know how you go with this.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

All comments

powerette

Hi Tracey,

I clicked on Transactions can't be changed, they must be reversed. Then after doing that and reversing the bill it has gone to Closed Bills. Sorry, Im unsure of what I did wrong or how to fix it.

Tracey_H

Hi @powerette

Thanks for your post. When you have paid for a purchase in full and then receive a refund you can follow these steps to record that in AccountRight:

reverse the original purchase transaction
go to Purchases Register>>Returns & Debits tab
highlight the reversal transaction
click on Receive Refund
the Settle Returns & Debits window opens, enter applicable information
click on Record

I'll also give you these help articles which have detailed information on supplier returns:

Supplier returns, debits and refunds

Settling supplier debits

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.