Refund
I paid the wrong supplier, so they have refunded us. How do I mark this off? Make a fake invoice, mark it off?
Forum Discussion
Hi kimberlybraham and AG23
Do not create a fake invoice.
The better option is to post the original payment from your bank account to an account called Suspense and post the refund from your supplier to the same Suspense account.
These two entries will cancel each other out and I suggest that you enter an explanation of the reason for these entries so it is clear to anyone in the future what has happened.
If your chart of accounts does not already have an account called Suspense, I usually create one as a liability (Other Liability) with the account number 2-9999.
Hope that helps.
AlanT
