Balance credit and debit

Accounting
1

Hi I have a very awkward supplier. I paid £1500 which was debited from my account one day. 2 days later i received a credit for a return of £500. When i then request an invoice they send it for £1000. I am struggling to reconcile the bank account as if i put in the invoice amount as they sent it (£1000) it shows the transaction as only part paid as the bank statement shows a debit of £1500 with a later credit of £500? Can you help at all?

2

Hello @LDDesign

I paid £1500 which was debited from my account one day

Did they initially invoice you £1500?

3

No thats the annoying part - the only invoice i have is for £1000

4

Hello @LDDesign

You can record it like this

  • Record the £1500 as a money out transaction on the bank and tag it as payment to a supplier

  • (select pay down multiple invoices then select “Payment on account(assign later)”).

  • Record the invoice for the £1000 on their account.

  • Open the invoice and click log payment and pay using the credit.

  • Go into their account and click on the prepayment value (£500)

  • View the details and click refund balance.

The £1000 invoice is now recorded and paid, the bank shows £1500 comming in and £500 going out.

5

Thank you Steve!! That worked perfectly!