Forum Discussion

kazda's avatar
kazda
Contributing User
3 years ago

Amount paid to us in error, how to record payment received and refund made

  Hi We received an amount in our bank account that was EFT'd  to us in error.  I've contacted the company and have refunded the amount back to their bank account.   Both transactions are showing ...
gavin12345's avatar
gavin12345
Ultimate User
3 years ago

Hi kazda 

 

Just a thought - and while this may not be PC, don't record either as transactions, simply hide the 2 bank feed entries, which should offset each other.

 

Regards

Gavin

kazda's avatar
kazda
Contributing User
3 years ago

Hi gavin12345

 I'd prefer to record both transactions so we have a record of the payment and the return, however if no other solutions are offered I'll hide both transactions.  thanks for your idea.

 

Cheers

 

 

 

  • Tracey_H's avatar
    Tracey_H
    Former Staff
    3 years ago

    Hi kazda 

     

    I'd record a Spend money transaction and a Receive money transaction, allocate both to the suspense account. You've then got an audit trail of the transactions without it affecting your account balances.

     

    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.

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