Forum Discussion

Fullick's avatar
Fullick
Experienced Cover User
5 years ago
Solved

Refunds

Hi,   When recording refunds that come through the bank feeds, I post into the correct account i.e. Materials, when printing out the BAS the Gross less the GST is different to the Income Amount on ...
  • Tracey_H's avatar
    Tracey_H
    5 years ago

    Hi Fullick 

     

    Thanks for your post. When recording transactions, the type of transaction determines where it will appear on your reports, for example, a Receive Money transaction will result in a value in GST collected (Sales and Income), whereas a Spend Money transaction will result in a value in the GST Paid (Purchase and Expenses) section.

     

    Ideally you would be processing refunds through the Purchases Command Centre. These help articles have the instructions on how to do this -

     

    Supplier returns, debits and refunds 

    Settling supplier debits 

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Tracey_H's avatar
Tracey_H
Former Staff
5 years ago

Hi Fullick 

 

Thanks for your post. When recording transactions, the type of transaction determines where it will appear on your reports, for example, a Receive Money transaction will result in a value in GST collected (Sales and Income), whereas a Spend Money transaction will result in a value in the GST Paid (Purchase and Expenses) section.

 

Ideally you would be processing refunds through the Purchases Command Centre. These help articles have the instructions on how to do this -

 

Supplier returns, debits and refunds 

Settling supplier debits 

 

Please let me know if you need further help.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.