Supplier Invoice Unpaid Instalment
Hi,
We have business insurance and the yearly amount is put in as a Supplier Invoice and the monthly payments are deducted from this Invoice. One of these payments was missed due to insufficient funds. The bank took the money out of the account automatically and the next day it was returned in the bank system due to insufficient funds.
Can someone please advise how I process the return in MYOB?
Thank you.
Hi powerette,
As a general rule of thumb, the way you record your transaction should match how the transaction happened in real life. In this case, you may need to reverse the previous payment and create a new one to match the payment that went through without issues. However, it might be best to consult an accountant to see how it’s best recorded.
In the meantime, feel free to create a new thread if you need any other help.
Thanks,
Genreve
