Credit Note no Bank Journal

[John_Charnock1]

Why is it when I raise a credit not it insists on making bank/ cash journal?

[John_Charnock1]

[QFSteve]

Hello @John_Charnock1

When you credit directly from an invoice it will auto allocate to the invoice

If you raise a manual credit it will process it as a refund

[John_Charnock1]

Thanks

I have 12 invoices to credit 12 × 450, I was hoping to do it in one transaction of £5400.00. Is that not possible ?

[QFSteve]

Hello @John_Charnock1

If you want to only show 1 transaction in your bank for 5400.00 you could do this by crediting the invoices to a dummy bank account.

You then record a bank transfer showing the 1 transaction in your bank for 5400.00 moving to clear the balance on the dummy account.

But either way you still have to credit each invoice to process the refunds.

[John_Charnock1]

In summary, I have to raise a CR for each individual invoice raised, how do I process the refund to the customer - it seems to double up on the refund / credit

[QFSteve]

Hello @John_Charnock1

The way it would work is

• You set up the new “Dummy bank account in the banking screen” (example “Holding Account”)
• Process the credit notes - refund using the “Holding Account”

e.g. 10 x refunds of £100 each = £1000 balance on the account

• In your current account record a £1000 Money Out transaction.
• Tag it as a bank transfer.
• This will show £1000 leaving the current account and clear the balance on the Holding account.

[John_Charnock1]

Hi

Thanks, that process worked.

I am crediting another Quick file account managed by me.

Is there a similar reverse process?

Tagging refund from a supplier does not seem to work.

Thanks

John

[QFSteve]

Hello John

The refund must be processed from the invoice or from the manual credit note.

It is pretty much the same process, if it is just a single credit and you already have a matching bank transaction (from a bank feed for example) for the refund, process the refund from the credit then delete the duplicate in the bank you already had to stop doubling up the values.

[John_Charnock1]

Hi Steve

I figured it out and got there in the end, thanks

J