Refund (credit) from supplier

Accounting
1

Hi, I started using this software with the new financial year, and did not bother to import transactions from the previous year as I wanted a fresh start, and it’s all working great, thank you for your support.

I have a question: I received a refund from a supplier for faulty goods (returned to them), purchased on the previous financial year. This went straight to my bank account and now I guess I need to tag it.

As there is no transaction from that supplier, how do I go about tagging it? I tried with the basic “credit from supplier” but not being registered any purchase during this financial year with that supplier, it won’t let me.

So, the only option I can see is “
Something else not on this list”

Should I use this, specifing in the description the nature of the refund? And under what account should this go?
General Sales comes as default, should I use that? the goods where products I normally sale to my clients.

Thanks for your time and your help.

Walter

2

What you could do here is just load up a new purchase entry screen, select your supplier and enter negative amounts in the itemised section. This will effectively force a refund to your bank… when you save, it will ask you to nominate the bank account.

When you’ve done this you will end up with two entries for the same thing on your bank, all you then need to do is delete the untagged duplicate.

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3

Thanks Glenn, that did the job, and you’ve been of great help, as usual…

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