MYOB BUSINESS- Sales Refunds

Question

Hello,&nbsp;I'm using MYOB Business and have a couple of questions regarding processing a customer (sales) refund.I've created 'Sales Returns and Allowances' in the Income section- do I need to link it to anything?I've also created a customer credit, and I can refund that. My question here is that the total to refund is $258, but when creating the invoice, it balances the GST to a total of $258.01. So my bank feed will have the refund of $258, and the books will be out by $0.01?I hope this makes sense!&nbsp;Thanks.

genreve_s · Answer

Hi Cassie_T,&nbsp;
&nbsp;
Thanks for your questions. I can see why you're asking if those sales returns and allowances need to be linked to any account.&nbsp;
&nbsp;
You don’t need to link the Sales Returns and Allowances account to the original invoice.
&nbsp;
Once you save the negative invoice, go to Sales &gt; Sales returns and credits, choose the return, then click Refund. Select the bank account and record the refund.
&nbsp;
The extra $0.01 is likely from GST rounding. Adjust the line amount slightly so the total is exactly $258.00. If you’re unsure, check with your accountant.
&nbsp;
More information:
https://www.myob.com/au/support/myob-business/sales/customer-returns-credits-and-refunds/creating-customer-returnshttps://www.myob.com/au/support/myob-business/sales/customer-returns-credits-and-refunds/settling-customer-credits
&nbsp;
Regards,Genreve

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MYOB BUSINESS- Sales Refunds

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