Electronic Clearing transaction, manual payment and receipt of refund of EC Transaction

Question

I have tried to fix this issue with no success, a whole lot frustration along with it as I am not understanding why the process isnt working.

5/4 we made a multiple payment via electronic payments. (a payment was sent to an incorrect bank account).

A manual payment was then made to the correct supplier bank account.

A refund from the incorrect bank account was then received.

I need to know the step by step process on how to correct this so that the manual payment is applied and the refund is received in the bank.

LRBooks61 · Accepted Answer

There is an easy fix for this

the original transaction in myob is fine

Imsuggest that you do a receive money transaction for the returned funds and a spend money for the corrected payment

all you need to do is allocate the returned payment and the corrected payment to a clearing account with a tax code of N-T or allocate as per the original transaction , whichever way you go they should be exactly the same with an explanation re bounced payment in memo. This will cancel each other out.

hope that helps

Lisa