Purchase refund - how do i a refund for something i have purchased

Accounting
1

Hi All,

I order stock sometimes from amazon as an example. if for some reason i don’t need or or its not what i want how do I do refunds from quick file. i did read a few topics but couldn’t get my head around it. for example i order 10 items for £300 and one needs returning how do i do it to make it work with the vat and banking ?

Thanks Dave

2

Hello @clicksystems

You would raise a credit note from the original invoice, edit it to show the 1 item being refunded (by default when it is created it would show the full value) and save, at which point a refund transaction would show in the select QuickFile bank account (This would reverse the payment in the bank by the refunded amount).

The credit/refund would also be picked up in the next vat return correcting the figures HMRC hold.

3

great will give that ago and get back to you, thanks

4

sorry to ask another question., if i open the invoice and go to more options then credit note, do I delete the two items that i have had refunded from that purchase order and put the date they were refunded and click save? Currently June is GBP 69.94 SHORT which is the refund amount. if i do the above it says my acocunts for june are GBP 69.00 OVER after deleting two of them items were refunded?

I must be doing something wrong here.

Thanks
Dave

5

You edit the credit note to show ONLY what is being refunded

Delete the rest, when you save the refund amount will be for the amount showing on the credit note.

6

ahh sorry that makes total sense now :slight_smile: thanks for all your help.