Refunds

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Experienced Cover User
21 Posts
Experienced Cover User
Australia
Experienced Cover User

21Posts

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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 the P & L.  What it is doing is treating the refund as income, even though it is going to the correct account and not income.  How can I overcome this.

 

Thanks

Bronwyn

1 REPLY 1
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MYOB Moderator
2,426 Posts
MYOB Moderator
MYOB Moderator

2,426Posts

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Accepted Solution Solved

Re: Refunds

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.

Cheers,
Tracey
Previously @bungy15

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