Hello,
I received a deposit on the previous financial year (2021) for an event (work) that should happen this year (2022). The event (work) was cancelled. What is the best accounting way to return the deposit back?
Many thanks!
Hello @Vasile_Pascuta
How did you record the receipt of the deposit?
If it was a prepayment on the customers account
Open their account > Click on Prepayments and view it then click Refund balance and enter the refund details
If it was invoiced and paid by the customer
Raise a credit note, once you save it you will get the refund options
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