Hi,
I had a purchase for £269.10 and a matching bank payment for this transaction.
The supplier subsequently corrected the invoice to £221.40 and processed a refund of £47.40.
How to I record the updated invoice and process the refund so that I maintain the correct audit record for the transactions and balences?
Thank you,
Jason.
Hi @jason
When they corrected the invoice did they issue you a partial credit note or a full credit and then a whole new invoice?
Hi,
They sent a new invoice for the updated amount referencing the amount to be refunded and refunded the difference direct into the bank account.
Thanks for your help.
Jason
Hi @jason
In that case it’s up to you - you can either raise a partial credit for the difference against the invoice and then show it being refunded to your bank - this will create an entry so you’ll need to delete the bank entry that was created from your feed.
The other option would be to credit the invoice in full - hold the balance on the account. Then create an invoice for the corrected amount - you can then use the balance held to pay the new invoice and then the remaining balance you can refund back to your account - again this will create a duplicate entry in your bank so you’ll need to delete the original.
Hope this makes sense
Hi @QFBeth
Thank you, I seem to have made the first option work without complication.
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