Refund of payment on account (we’re the client)

A payment was made in error last year to a supplier so no invoice etc. On doing the books recently I found it and contacted the supplier and they have now issued the return of funds via BACS.

How do I handle this on QF?

Many thanks

How was the original payment tagged if there was no invoice? Think about that then you’ll know how to treat the refund.

Tagged as Payment on account, unallocated.

If you click through to the payment record (either via the supplier page or by clicking on the green “tagged” button for the original transaction and then the “this payment is…” link) then you’ll see a button at the top to “refund balance”. This will create a new pre-tagged transaction for the refund, you then delete the duplicate untagged one from your feed, if you have one.

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