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May 2020
May 2020
Hi there.
I do an online order with the Supermarket and pay by credit card which they debit before delivery (so i put in MYOB as banking - spend money).
When I have gone to do a bank recon i noticed that the supermarket has deposited $ back into our credit card (the amount for a product they couldn't supply) - I was going to put the credit through as 'banking - receive money' under income (now i'm thinking it's technically not an 'income' is it?) as there is no outstanding invoice to apply it against.
I would appreciate anyone's thoughts on how I should enter it. I have looked through the help section and can't find what I think applies to my question.
Cheers Deb
Solved! Go to Solution.
May 2020
May 2020
Can you enter it as a negative 'Spend Money' with exactly the same setup as your original spend money? That way it should appear in the same account?
May 2020
May 2020
I'm not sure that would work (or am I looking at your suggestion the wrong way?)
For example: i do an on-line order to Woolworths for $10.00, so they debit that from my credit card straight away.
When that debit appears in my bank account (or bank feeds) it is for $10; so I put it through in banking - spend money.
Then the next day i look in my bank account (bank feeds) and there is a $3.50 credit (Return from Woolworths) - and I receive an email notifying me that they couldn't supply a $3.50 item that they have orginally charged me for and I have paid for with the credit card.
So.... if i put thru as 'receive money'(income) - it's not technically income is it, because it was already the company's money and I don't have any outstanding invoice as I have paid the on-line order invoice in full already.
I can't put it thru as a (-)negative can I, because it's a credit in the account??
May 2020
May 2020
Hi @DMadmin
Code the $3.50 deposit as a Receive money and use the same account that you used when you coded the purchase. You are just reducing the amount of your purchase.
Hope that helps,
AlanT
May 2020
May 2020
I just had a go and entered a negative amount in spend money - it worked. If you allocate them both to the same account (eg. Groceries or Office supplies or whatever you use for your Woolworths purchases) then they will both come out in a report as a total of $6.50 spent. But will match your bank statement for two transactions (+$10.00 and -$3.50)
May 2020
May 2020
Oh yay - you are a legend, thank you so much for your advice and help.