Refund back to 'Drawings'

[glasgow]

I bought something for myself, I entered it as a ‘Drawing’. So far so fine. Now if I return the item and receive a refund, where do I enter that credit on my bank account? How do I pay Drawings back?

[rhc]

Hi,
You don’t enter it in your accounts because it was and is private use. You recorded the purchase correctly as drawing (private use), the refund is your private money. You don’t enter the refund in your business accounts.

Hope this helps

[glasgow]

Thanks. However the cash cam from a business account and the refund was paid back there. So to get it to balance correctly I need to add the cash back.

Sorry if I oversimplified my question!

[rhc]

You can mark it as money introduced into the business. Because you marked it as drawings in the first place therefore it is now money you introduce into the business

[Eddie_B]

If you tagged the money out of your business account as a proprietors drawing, personal expense.

Tag the money back into your business account, as a transfer from your proprietors drawings account.