Refunds In Bank Feed
I'm quite new to MYOB and especially bank feeds. The company I work for uses bank feed to apply deposits and withdrawals to the corresponding invoices. We had a customer over pay her invoice by bank transfer, we can transfer the overpayment back but I'm not sure how to apply the deposit and withdrawal in the bank feed? If I try apply the deposit to the original invoice it will leave the customer in credit? And then how do I apply the withdrawal (refunded amount) to an adj note I make as it only wants to apply withdrawals to purchases, not sales credits?? Any help is appreciated thanks!
Loan repayment reversal
Good Morning, Am hoping someone can point me in the right direction. We have a loan through a third party sales supplier. They take x% of each sale to pay the loan back. As part of a sales offer my partner offered refunds etc etc. So when she refunds back through the third party supplier, they add the loan repayment back onto what we owe. Doing the cash payment part is easy. What I need to know is how to to do the loan repayment part as it never goes through our bank account. I was going to do a general journal entry, crediting the bank loan etc but I've no idea which account I debit. Would it be the sales account? Thank you in advance. Cheers Mick
Accounts receivable: GST on MYOB's Credit Card Surcharge on payments not reconciling with payment amount
Hi MYOB Community, I have a payment made by a customer via Credit Card, and it doesn't match the invoice price. Payment is $3.90 more than my invoice. The price difference between the Invoice amount and the Bank Feed amount is exactly the GST of MYOB's Surcharge for a credit card payment, less $0.25 cent merchant fee. My payment notification from MYOB looks like: You've just been paid $2,581.83 by (Customer) Invoice amount $2,305.62 Tax $ 230.56 Surcharge $ 45.65 Total amount $2,581.83 Surcharge (excluding GST) $ 41.50 Merchant Fee $ 0.25 Total amount Received $2,540.08 And that is the amount in my Bank Feed. My Invoice to match this payment against is $2,536.18 What am I missing in the invoicing process that it does not include the GST of the surcharge? And how do I best reconcile this payment now. Thank you!
