HOME / COMMUNITY Switch to knowledge base

Refund from Supplier - EDF

How can I log a refund from a supplier (EDF Energy) to refund overpayments
There is no credit note involved it’s just a repayment of DD’s which were over estimated against consumption so it doesn’t affect any nominal code and the invoices are split between 2 codes - one gas and one electricty


How did you handle the original (over) payments? Did you treat them as prepayments on account to the supplier and use the credit to pay actual purchase invoices when they sent you a bill, did you create purchase records for each payment as you went along independent of the actual bills, or did you do it some other way (e.g. “something not on the list”)?

Originally I made invoices from the payments as I wasn’t told they were payments on account, only that invoices were to follow so I’ve since credited those “invoices”. When the invoices came in the they were for a lot less so basically I now have the overpayments showing as a prepayment which needs reducing by the refunded amount which is showing in the bank as not tagged

It’s a bit fiddly I’m afraid as QuickFile doesn’t let you bulk refund prepayments, you can only refund each one individually as a separate bank transaction. You need to go to each of the unallocated payments in turn and “refund balance” to a spare bank account such as drawings/director loan/petty cash, and then tag the bulk amount received into your current account as a transfer from the same account to balance it back up.

This topic was automatically closed after 7 days. New replies are no longer allowed.