Refund

7 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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1Comment
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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1Comment
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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0Comments
Online payment refunds
Hi, Can anyone tell me please the process for having an online payment we received from a customer refunded to them? We would prefer not to manually refund them, but to refund to the account from which it was paid.
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Belinda_OD
2 months ago Place MYOB Business: Sales and Purchases
31Views
0likes
3Comments
Customer Overpayment and Refund
Hi, I have a few messy transactions that I would like some help with. I had a customer overpay an invoice by $275. However when we refunded the customer we accidentally refunded $2750, so to fix this the customer then repaid us $2475. I can do the $275 overpayment however how do i treat the $2750 and $2475 transactions that appear in our bank feed!
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CarmenT
2 months ago Place MYOB Business: Banking
27Views
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3Comments
Refund
We purchased and paid for an item. It has been allocated and reconciled. We then had to return the part and we have received a refund. How do I enter this into MYOB. I can't connect it to the original sale as the there is no open purchase to put the refund against. MYOB says to use Settle account, but there is no open invoice to settle it against. Thanks Gem
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Gem159
3 months ago Place AccountRight: Sales and Purchases
23Views
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1Comment
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
5 months ago Place AccountRight: Sales and Purchases
14Views
0likes
1Comment