Cannot link refund to Transaction

Support
1

Hi Guys,

I have received a refund from a supplier via paypal on 18/06/2018:

Ideal Extensions (4EC40336K6999124E)

This is relates to a purchase made on 31/05/2018 to Idea Extentions, however when I try and tag it as a refund from a supplier the transaction does not appear in the dropdown list. Only a later transaction appears.

The original purchase was for 11.29 the refund is for 11.30 due to the exchange rates. Can you advise how I can tag this transaction please?

Regards
Donna

2

If the backing purchase is in a different currency then you should go to the purchase record itself and “credit note” from there. That should let you set the GBP amount and calculate the exchange rate for you. It will create a duplicate bank transaction so you then need to delete the untagged one to get the numbers to add up.

3

Hi Ian,

Paypal converted the amount, so both are in GBP.

Regards
D

4

If you’ve recorded the purchase in QuickFile as GBP then you’d have to account for the currency fluctuation yourself - the easiest way to do this would be to delete the £11.30 transaction and replace it with two transactions for £11.29 and £0.01, tag the £11.29 as a refund and tag the £0.01 as “something not on the list” to currency charges.

In future, if you are making purchases in other currencies it would be more accurate to enable multi-currency on your QuickFile account and record the purchases in the currency that matches the receipt, and QuickFile will deal with the exchange rate gains/losses automatically.

5

Thanks Ian, as mentioned this is Paypal so the conversion is automatic, It is not possible to set multiple currencies in quickfile for a Paypal account as far as I can tell?

Thanks for the advice I have managed to set up the refund.

Have a great day.

Regards

6

I don’t mean having a Euro (or whatever) denominated bank account, I just mean that when you create the purchase record in QuickFile you do that in the same currency as the actual purchase.

When you log payments against the purchase you can set the foreign currency amount you paid and also the GBP amount that actually left your account, and QuickFile will calculate the exchange rate. Then if you needed to credit the purchase again you could raise a credit for the same amount of foreign currency but a different GBP amount if the rate has changed.

7

This sounds similar to a problem I reported a 2 years back. (If you go to the link below support gives a work around)
In essence the drop-down list only shows the latest 25 transactions so if it was before those it does not show.

8

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