Hi
An existing client recently made two payments into my business account in error and I subsequently returned the money to them in one payment. How do I account for this and tag the bank entries in Quickfile?
Thanks.
Hello @PhilMiers
Tag the income of the 2 payments as prepayments on account.
You can then open their account, click on prepayments, “View Details” and “Refund balance”
Thanks for your help Steve.
I’ve followed the process as you advise but when I come to tag the repayment from the banking side I just get this.
So how do I tag the refund payment? There is obviously no invoice.
Sorry if I’m being dim!
Regards
Phil
When you “refund balance” that will create a separate pre-tagged transaction for the refund - this will be a duplicate of the untagged refund transaction from your feed, so you can just delete the untagged one to bring things back into balance.
Thanks for that. I have deleted the duplicate now how do I tag the original?
You don’t need to. The transaction from “refund balance” is created already tagged, the one you delete is the untagged one that came from the bank feed.
Thankyou Ian. Makes sense now!