MYOB BUSINESS- Sales Refunds
Hello,
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!
Thanks.
Hi Cassie_T,
Thanks for your questions. I can see why you're asking if those sales returns and allowances need to be linked to any account.
You don’t need to link the Sales Returns and Allowances account to the original invoice.
Once you save the negative invoice, go to Sales > Sales returns and credits, choose the return, then click Refund. Select the bank account and record the refund.
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.
More information:
https://www.myob.com/au/support/myob-business/sales/customer-returns-credits-and-refunds/creating-customer-returns
https://www.myob.com/au/support/myob-business/sales/customer-returns-credits-and-refunds/settling-customer-creditsRegards,
Genreve
