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Credit Note for a Square Payment

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LDUAC
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Credit Note for a Square Payment

I am trying to put in a credit note for a Square payment so it balances in the Bank Feed but MYOB will not let me put a negative amount in the price at all.

 

Also tried adding an additional line to the original invoice with a negative amount but wouldn't let me do that either.

 

If someone can please help, these square payments are driving me crazy!

 

Thanks

 

 

1 REPLY 1
Tracey_H
MYOB Moderator
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MYOB Moderator
MYOB Moderator

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Re: Credit Note for a Square Payment

Hi @LDUAC 

 

Thanks for your post. If you are referring to the Square fees, when recording the payment through either Receive Money or Receive Payments enter the full amount of the invoice and tick the Undeposited Funds box. In this example the customer is paying an invoice totaling $475.51 so apply the full amount:

 

sq1.PNG

 

 

Square has deducted $5.51 in fees so have deposited $470.00 into your bank account. Go to Banking>>Prepare Bank Deposit and click on Deposit Adjustment. In the Bank and Deposit Adjustments window enter the fees into the Fees and Cash Back section and allocate to the applicable expense account:

 

sq2.PNG

 

 

In the Prepare Bank Deposit window tick both the payment and fees transaction so the Total Deposit Amount is the amount deposited into your bank account by Square. You'll be able to match this transaction with the bank feed transaction.

 

sq3.PNG

 

 

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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