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Reena1's avatar
Reena1
User
3 years ago

Refund inaccurate payment to customer

Hi Team, 

 

I have recorded a sales credit with a negative $100 under the sales register which I need to pay refund to customer. But I have inaccurately overpaid with $200 to client by the end of Feb. As a result I can't reconcile this transaction as the MYOBRight refuseed to record this refund by entrying the overpaid amount. Client refund the overpid difference of $100 in the early of March which shown in the bank statment but I don't know how to record this money receive.  Hence I would be much appreciative if you could help to give a hint to solve:

1.  reocrd this inaccurate overpaid sale refund

2. record refund received by customer

 

 

Many thanks

 

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  • LRBooks61's avatar
    LRBooks61
    Ultimate Cover User
    3 years ago

    Hi Reena

     

    I would suggest that you record the refund of $100 to undeposited funds and the overpayment as a spend money to undeposited funds also ( same date) I would allocate it to sales .

     

    Then when you prepare the deposit you will combine the two and it will show in your reconcilation as a bank deposit in the withdrawal column which you can then match to your bank feed

     

    Ehen you receive the overpayment from the customer you can record it exactly as you did the overpayment ( sales) and they will cancel each other out.

     

    Hope this makes sense to you and solves your issue

     

    Lisa