Bank Feed - Credit Card has a credit from a supplier

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Bank Feed - Credit Card has a credit from a supplier

Hello,

In my Bank Feed under Credit Card, I have a credit from a supplier.  I purchased 2 items from this supplier (I use this supplier a lot) on my Credit Card, the total was $700 for both items.  The next day I returned 1 of the items and the supplier gave me a credit back onto my Credit Card for the amount of $500, which has come up on my Bank Feed under Credit Card. 

I only delivered 1 item for $200 (should I change this and deliver 2 items in to equal $700?)

The $700 charge, I would like to allocated to the Suppliers invoice and then I would like to allocated the credit of $500 to the same invoice.  I would like to allocated this credit to my Supplier but MYOB will not let me do that, it only calls up my Customers.  Is there another way I can do this.   We are only a small business using MYOB.

Thank you 

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Re: Bank Feed - Credit Card has a credit from a supplier

@ShellyMac 

 

Welcome to the MYOB Community Forum, I hope you find plenty of useful information.

 

You would normally enter the Supplier Bill for the full amount then create a negative Bill for the Credited amount.

This would then go to the Purchases Register > Returns and Debits and highlite the negative bill and click on receive refund. The deposit to account being your credit card.

Now in the bank feeds click on find and it should find the transaction for you to match.

Have a read of the MYOB SUPPORT NOTE on Supplier returns, debits and refunds.

 

If my response to your query and has helped, please mark my post as a solution to help others in the future.
Graeme Day
Registered BAS Agent #24745540
First Class Accounts Clayfield
Mobile: 0402 841 627
gday@firstclassaccounts.com
MYOB Certified Consultant
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Re: Bank Feed - Credit Card has a credit from a supplier

Hi GDay53,

I did all what you suggested, but I ticked on UNDESPOSITED FUNDS, as I wasn't sure to tick on it or not.

Now it will not come up in by bank feeds and I am not too sure how to change it or where to find it.

Looking forward to your reply.  

 

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Re: Bank Feed - Credit Card has a credit from a supplier

Hi @ShellyMac 

 

Ticking Undeposited Funds will make the transaction appear in the Banking>>Prepare Bank Deposit window and in the undeposited funds bank account, not the main bank account that bank feeds will come through on.


My recommendation would be to go to Banking>>Prepare Bank Deposit and see if the transaction is listed in the window. If not, go to Banking>>Bank Register>>Select the Undeposited funds account to see if the transaction is listed. Once you have navigated to the transaction go to Edit>>Delete transaction. This will delete that transaction so it can be re-entered selecting the desired bank account as required.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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Re: Bank Feed - Credit Card has a credit from a supplier

Hello Steven_M

 

Last night the transaction it didn't turn up in my Prepare Bank Deposit, but for some reason it turned up in my Prepare Bank Deposit this afternoon under the Bank Account, so I just changed it to the Credit Card Account and it worked. It came up into my credit card feed and I have now allocated.  The Credited has gone and I didn't have to delete the transaction.  

Thank you very much for you help.

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