Refund

4 Topics

ATO Tax Refund for Sole Trader
Hello Community, Hope you are all well. Could someone help me with the correct way I should "Receive Money" for a refund my boss received this year? I want to make sure the account it is distributed to is the right one before I complete my week's reconciliation. So this is slightly time sensitive. I thank you in advance for your time and assistance. P.S. I note we have bold and underline in our Community Forum, however Myob still hasn't put this in the area where we enter invoices...
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JustMichaela
3 years ago Place AccountRight: Banking
335Views
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Bank refund for property valuation
Hi, this is my first post so here goes :) We received a refund for an overcharged property valuation which was first done to get a bank loan for our company. I cannot find the transaction where we paid for it (not sure if we paid it from our business account) and I'm assuming it was paid some time ago already. Refund we received was made of: Fee refund: $284.17 Compensatory Interest: $31.56 Total refund: $315.73 How do I record this refund if I can't find the original transaction? Thank you in advance.
k4ts
2 years ago Place AccountRight: Banking
243Views
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Refund Showing Incorrectly in Report
Hoping someone can assist me with an issue in MYOB that I have found while doing the Monthly Finances for May. To do the Monthly Figures we normally run an Account Transaction (Cash) and Profit and Loss (Cash) report and input this data into an excel, however we have never had any issues before but upon running the report I noticed it is showing incorrect amounts. The debit amount should be $945.00 and the Credit amount should be $803.25 which should balance it out to a new amount of $141.75, however it looks like it’s done something in the system and generated odd amounts. This particular transaction (In Yellow) is for a refund we recived from a supplier. I don’t know if we have maybe applied the refund incorrectly in our system (will include how it shows in the system) or if it’s a glitch but I was hoping someone might know a way to correct it?
DTK0909
3 years ago Place AccountRight: Sales and Purchases
215Views
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Recording Sales Order Refund
Hello! I am just hoping to get some advice as I am still new to MYOB. We currently have an online shop that takes our sales for online courses. We recently had a purchase through this shop which the amount for the course was then deposited into our bank account. At the time I entered this as a sales order to record the payment. Due to some unforseen circumstances, we have now refunded the client the cost of the course which was processed through our online shop software. This money was then withdrawn from the same bank account automatically and refunded to the client. I am now trying to work out how to process this refund in MYOB. Do I need to record the sales order with the negative amount, process a refund through 'Returns and Credits' using the bank account the money was withdrawn from / deposited too and then record a spend money (unselecting the electronic payment box)? I hope that the above makes sense. Thank you in advance!
Cassie_D
2 months ago Place AccountRight: Sales and Purchases
12Views
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1Comment