refunding part of a deposit

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Wilfords
Experienced Cover User
132 Posts
Experienced Cover User
Australia
Experienced Cover User

132Posts

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refunding part of a deposit

Hello

I have a question in regard to a deposit paid.

The customer ordered some goods, paid a deposit then cancelled.

Because we had to return the goods, we were charged a fee by our supplier, so we passed on the charge to the customer therefore repaying the total deposit amount less $25.00.

Can you please tell me how I enter this in MYOB?

Thanks

Lin

2 REPLIES 2
Wilfords
Experienced Cover User
132 Posts
Experienced Cover User
Australia
Experienced Cover User

132Posts

6Kudos

1Solutions

refunding part of a deposit

Hello

Just following up on my previous email regarding refunding part of a deposit. 

I dont seem to have a reply

Could you please have a look at it.

thanks

Lindy

Steven_M
45,180 Posts
Former Staff
New Zealand
Former Staff

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Accepted Solution Solved

Re: refunding part of a deposit

Hi @Wilfords 

 

The process I would use is:

  1. Reverse the invoice to create a credit note of the original transaction
    1. Ensure the Setup>>Preferences>>Security>>Transactions can't be changed they must be reversed is enabled.
    2. Navigate to the required invoice.
    3. Choose Edit>>Reverse Invoice.
    4. Record the Reversal.
  2. Record the necessary sales for the transaction the charge
  3. Navigate to the Sales>>Sales Register>>Returns and Credits
    • Highlight the desired credit note, select Pay Refund and record the necessary Settle Return and Credits transaction for the amount of the refund. Ensure that the amount listed on the transaction is correct
    • Highlight the desired credit note, select Apply to Invoice and record the necessary Settle Return and Credits transaction allocating the desired amount to the outstanding invoice and another charge invoice.

What the above process will do is generate a credit note for the transaction and then allows for that credit to be allocated to the individual parts of the situation (original invoice, new invoice charge and the refund).

Kind regards,
Steven

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