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A batch of Supplier payments were paid twice - Each Supplier refunded the overpayment

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Experienced User icehorse5
17 Posts
Experienced User
Australia
icehorse5
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A batch of Supplier payments were paid twice - Each Supplier refunded the overpayment

Hello

 

A batch of supplier payments were uploaded twice and paid twice in MYOB. Each supplier that was overpaid was contacted and each supplier refunded the overpayment.

 

What is the correct way to record this in MYOB to keep everything neat.

 

Thanks

 

Regards

 

Amber

 

I have Accountright Premier V19

2 REPLIES
Ultimate Partner Julie_A_C
3,101 Posts
Ultimate Partner
Australia
Julie_A_C
Ultimate Partner

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Re: A batch of Supplier payments were paid twice - Each Supplier refunded the overpayment

There are a few ways this can be done but the best would be to do a negative purchase for the amount paid, details can note that supplier was overpaid, alloaction account will be the bank account (coded not reportable), say okay to the warning, date the negative sale the date you made the payment.

 

This will get the withdrawal into your bank rec for reconciling.

 

When the supplier refunds the money, go to your purchases register>returns and credits, highlight the supplier and choose receive refund. Date it the day they sent it back to you and all should be good.

 

This way you can keep a 'handle' on who has not refunded, and if they may just be keeping the money towards outstanding invoices, in which case you would then choose apply credit, and then apply it to the invoices they applied it to.

Julie Carter AIPA, BBus(Acctg),
MYOB Professional Partner, Registered BAS Service Provider
Associate Member of Institute of Public Accountants
Member Association of Accounting Technicians
ph: 0417 927 654 email: accuratebooks7@gmail.com
JAC' of All Trades Bookkeeping (Servicing from Leederville to Pinjarra, Fremantle to Armadale WA)
Experienced User icehorse5
17 Posts
Experienced User
Australia
icehorse5
Experienced User

17Posts

3Kudos

1Solutions

Re: A batch of Supplier payments were paid twice - Each Supplier refunded the overpayment

Thanks very much Julie - thats a logical solution that we will use Smiley Happy

 

Regards

 

Amber

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