Nominal account code for 'Returned Payments'

[Dan]

Continuing the discussion from Bank tagging credit notes - credit notes aren't being acknowledged:

I have an amount credited to my bank account from a utility. When I try to tag it as a ‘refund’, I get the message:

No qualifying purchases could be found to refund against. Make sure the corresponding purchase has been logged before you attempt to process this refund. Invoices with items posted to more than one nominal account will not show here and in such cases a manual credit note will need to be applied.

Looking at your post below, should I post to nominal code ‘Returned Payments’? If so, it doesn’t seem to be on the nominal accounts list, so if I re-create it, what is the code no?
Thanks!
Dan

@Glenn

The 5 payments you made are sitting on the supplier account aren’t allocated to any invoices.

Given these are just returned payments it’s really not even necessary to record them as invoices and credit notes.

I would delete all the invoices and credit notes, detag all the payments on the bank and retag the payments and returned payments directly to the nominal code “Returned Payments”. It’s a straight in-out and will finish at zero.

You can tag directly to nominal codes by selecting “Something else not on the list” in the bank tagging pop-up.

[Lurch]

The topic you linked to says to post all in and out transactions to that nominal so the final balance is zero.

Have you got an original invoice that you paid and tagged via Quickfile that this return is referring to?

[Dan]

There are recurring monthly payments for gas utility of around £100, but this ‘refund’ from the supplier is greater at £160. How do I tag this credit?

[Lurch]

I think you can just create a purchase invoice with a negative value for this.

[Dan]

As you suggested, I’ve created a credit by creating a new purchase invoice for a negative amount. That worked fine, but when I try to tag the credit showing in the current account to that credit note no chance! I get the message:

No qualifying purchases could be found to refund against. Make sure the corresponding purchase has been logged before you attempt to process this refund. Invoices with items posted to more than one nominal account will not show here and in such cases a manual credit note will need to be applied.

I can't see any way of allocating this credit note to the bank amount.

[ian_roberts]

@Dan

I can’t see any way of allocating this credit note to the bank amount.

You don’t tag the existing bank transaction - when you save an ad-hoc credit note (a negative value purchase invoice that is not associated with an original purchase) it will ask you which bank account you want to assign the refund to. The act of saving the credit note will have created a pre-tagged transaction on that bank account for the value of the credit note, so you can then delete the untagged transaction for the same amount.

[Dan]

Ian
Yes, exactly as you describe, I didn’t notice the new entry on the bank account.
Thanks for your prompt replies guys, much appreciated!