I have 3 scenarios where I have several entries for full and partial refunds from suppliers and not sure how to handle them.
A number of monthly direct debits went out from my energy supplier and then got refunded back a few days later under the gov’t scheme from the energy supplier
A payment was made to another supplier when it should not have gone out and they subsequently refunded in full a few days later. Not energy related this time.
An advertising bill for Microsoft Bing was paid out and then subsequently partially refunded due to incorrect advice being given during initial campaign set up
How do I deal with these refunds that came back into my Bank so they do not show as earnings.
A number of monthly direct debits went out from my energy supplier and then got refunded back a few days later under the gov’t scheme from the energy supplier
Are the original direct debits showing on the suppliers account?
A payment was made to another supplier when it should not have gone out and they subsequently refunded in full a few days later. Not energy related this time.
Is the payment allocated to the supplier?
An advertising bill for Microsoft Bing was paid out and then subsequently partially refunded due to incorrect advice being given during initial campaign set up
It would all depend on what/how they are tagged to for example
You could tap payments made to supplier as prepayments
you can then go to Suppliers > Payments and process a refund from there (if you already have a refund transaction in your bank remember to delete it as to not double up.).
If a payment has been made for an invoice and partially refunded tag it to the invoice then view the invoice > More Options > Credit note and amend for the correct value then refund the credit note (if you already have a refund transaction in your bank remember to delete it as to not double up.).
Following up on my partial refund question here is a situattion with a twist to it.
In May 2022 a 3rd party company made a large direct booking through my website - they were acting on behalf of an insurance company who were temporarily rehousing a family due to water damage to their own property.
Despite me explaining to the third party that we DID NOT accept bookings for over 30 days, they still went head the following day and booked and made full payment!!!
I cancelled the booking needless to say and through my stripe control panel I refunded their payment… IT NEVER came into my bank account.
On the advice of Stripe I refunded the full amount back to the 3rd party
But Stripe still charged me their transaction fees, but after a number of protracted discussions with stripe they agreed to refund me their transaction fees.
So this is what happend:
May the 24th 2022 they took £94.53 from my bank account
May 30th 2022 they paid into my bank £189.06
In other words they refunded me double the amount and so far they have never asked for anything back unless of course they were making me a goodwill payment for the hassle they caused me due to wrong advice they gave on how to make the refund to the 3rd party lol
How do I go about tagging and processing these 2 transactions?
You would have a merchant account set up on your QuickFile account, which essentially treats Stripe as a separate bank account.
However, I’m going to send you a private message so we can get a few details about that payment on May 30th. You should see a green notification in the top right corner shortly.