Hi,
I understand how to process bills paid in a company A for another company B, in company B we do it as a spend money but from a loan account for company A. But we have a refund in company A that needs to go to company B how do I process that?
If you can't post to the loan account do a journal entry
DR Loan acc
CR expense account
Lisa
Just do what you normally do but in reverse
Receive money against the loan
So in company A you receive money ( the refund) and allocate to the loan for Company B ( reduces the loan)
In Company B receive money to the loan account and allocate it to the gl account for the refund
Hope this helps
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