Credit from supplier


I wonder if someone can explain how I account for the following

I was debited £200 for the hire of some equipment, which was £30.00 hire charge and £170 deposit. I was refunded the £170 but I cant work out how I can account for this in quickfile?. Our bank statement shows £200 debit and £170 credit. I can get the debit to tie up with the invoice however when I create a credit it tries to refund the supplier’s account as if I am sending the refund to them. Can someone please explain what I’m doing wrong?



I’d work from the “purchases” screen rather than the bank statement - find the original purchase invoice for £200 and under “more options” you can create a partial credit note for -170. When you save the credit note it should give you the option to choose a bank account to refund to.

If you’ve imported your bank statement this will leave you with a duplicate transaction, just delete the untagged one from the bank import and leave the tagged one that the credit note created.

Thanks Ian, that’s what I’ve been trying to do. When I try to do that, it’s as if it’s going to debit my account and refund the supplier… am I just being silly and interpreting the transaction incorrectly? I suppose I can always undo it if it goes wrong!

When you save the credit note it should offer you a list of your own bank accounts to refund to (current account, petty cash, etc.), when you choose one and save it then you’ll end up with a pre-tagged “money in” transaction on the relevant bank account.

The alternative option to hold funds on the supplier account is for a credit you will offset against future purchases, rather than an actual refund you’ve been paid.

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