I paid for a hotel which was refunded the following morning. I put through the receipt and then a credit note.
However I now have two bank transactions sitting there that I can’t reconcile.
Should I just remove them or is there a way to tie them to the invoice and credit note?
Am I correct in thinking that the invoice and credit note have been tagged all OK? It’s likely they create their own bank transactions, so the two you can’t reconcile are probably duplicates.
If that’s the case, you can safely delete them.
No it won’t let me tag the invoice or the credit note.
Apologies for any confusion. What I mean is, if the invoice has previously been tagged as paid, then there’s likely to be a duplicate bank transaction, and a duplicate for the credit note too.
If the invoice was never tagged as paid (e.g. because the payment hadn’t cleared), the credit note would have cancelled out the value of the invoice so there is technically nothing to tag. In which case, you can delete the bank transactions - they cancel each other out and as far as everything else is concerned, the invoice has been settled.
Providing everything else balances - your bank account is correct, your money owed is correct - then deleting the transactions should be fine.
Many thanks, super. I probably should have just done it as a refund when doing reconciliations in the bank account but as I was in the purchases part I did it automatically.
One other thing, it’s a strange one, my bank paid compensation because of some bank error except they put it into my work account rather than personal and then transferred the money straight back out again - what’s the best way to deal with this? Not had a bank pay me money before!! As they cancel each other out just delete?
You could tag this income straight to Misc. Income by using “Something else not on the list”.
If you gave the money back again (so the money came into your account, and then straight back out again), you can tag both to the same nominal. As there’s no invoice or VAT in this instance, tagging straight to the nominal code would be fine.
Hope that helps!
Thank you! Yes the bank moved the money to my personal account as soon as they realised their error.
This topic was automatically closed after 7 days. New replies are no longer allowed.