Hi I made a 2 payments to a supplier and received the error message in the bank account RETURNED TRANSFER VIA FASTER PAYMENT the transactions seem to have gone through later on. I tagged the actual payment to the supplier invoice but am left with the one that was returned - as these went through first if i now tag it to the invoices it will presumably cancel the one i tagged which did go through?? what do i do to tag these?
What do you actually have on the account that needs tagging? I can’t quite follow what happened exactly.
the real bank statement says
|16/09/2020||RETURNED TRANSFER VIA FASTER PAYMENT TO MISS V||£169.40|
|16/09/2020||BILL PAYMENT VIA FASTER PAYMENT TO MISS V REFERENCE VB INVOICE 000075 , MANDATE NO 3||£169.40|
|16/09/2020||RETURNED TRANSFER VIA FASTER PAYMENT TO MISS V||£240.00|
|16/09/2020||BILL PAYMENT VIA FASTER PAYMENT TO MISS V REFERENCE VB INVOICE 000074 , MANDATE NO 3||£240.00|
QF have it the other way round
16/09/2020 BILL PAYMENT VIA FASTER PAYMENT TO MISS V B REFERENCE VB INVOICE 000074 in red 240.00
16/09/2020 TO MISS V B in green 240
16/09/2020 BILL PAYMENT VIA FASTER PAYMENT TO MISS V B REFERENCE VB INVOICE 000075 , in red 169.40
16/09/2020 RETURNED TRANSFER VIA FASTER PAYMENT TO MISS V B in green 169.40
the bank is correct and the money has not actually gone out of the account i just re checked but i am at a loss how to tag this. ive not had this happen before!
The bill hasn’t been paid. If it has you’d see two money outs for 169.40.
The money went out, tagged to the invoice, then get returned. You need to log the return payment to the invoice so it’s still owed.
You could just delete all 4 of these untagged entries as they equate to zero. If you wanted to leave them on the account you could just add them as prepayment and then the reverse for the returned items.
Essentially it doesn’t really matter what you do with any of these, could just tag them to Proprietor Drawings or Petty Cash, would still make no odds overall.
This topic was automatically closed after 7 days. New replies are no longer allowed.