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Apr 23, 2019 2:14 PM UTC
Question

How do I record a Supplier Refund with vat to a Supplier account where we only record the payment and don't raise a bill entry

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1 reply

Apr 23, 2019 2:29 PM UTC


Hello accounts49,

 

You would follow the same steps as a normal supplier refund, these are as follows:

 

1. Create a supplier credit. Select the supplier at the top, select the date you received the refund and the category you recorded the payment against - include VAT if necessary.

 

2. Create a bank deposit - select the bank account you received the money to and select the supplier under 'received from'. Select Creditors as the category and enter the full amount with No VAT selected as the rate.

 

3. Link the credit and the deposit together by creating a cheque. Select the supplier - the deposit and credit will show on the right hand side, add these both in and save.

 

4. You will now be able to match the deposit in your bank feed, if you have your bank connected.

 

Thanks,

 

Talia