Credits/refunds

[PhilMiers]

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.

[QFSteve]

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”

[PhilMiers]

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

[ian_roberts]

@PhilMiers

So how do I tag the refund payment?

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.

[PhilMiers]

Thanks for that. I have deleted the duplicate now how do I tag the original?

[ian_roberts]

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.

[PhilMiers]

Thankyou Ian. Makes sense now!