Refund

[Joelle]

Hi I have a refund from EDF. How do I log this?

Thanks

[QFBeth]

Hi @Joelle,

Does this refund relate to a particular invoice or does it cover multiple invoices?

[Joelle]

Hi Beth
I pay for electricity by Direct Debit (£72 per month). I have ended the contract and this is the refund of the overpayments which amounts to £154.19.

Hope that explains it enough.
Thanks
Joelle

[QFBeth]

Hi @Joelle,

Yes, I thought that might be the case, to process this it may be best to enter a new purchase on the supplier account with a negative value to match the refund - essentially a credit note.

This will automatically create the bank transaction for you and tag it.

Hope this makes sense

[alan_mcbrien]

Refund from electric supplier - system not allowing

A way around this problem. I have added an extra line to the previous invoice (or create a Purchase invoice) with the overpayment. Then allocate the money so that the balance for the supplier equals zero. then raise a credit note from the invoice you allocated the overpayment (remove any additional lines on the credit note and you should then be able to refund to the correct bank account (You cannot do this credit note from the bank account where the money has come into if you have added an addi…

[Joelle]

Thanks Alan. I am having difficulty following. There has got to be an easier way. Surely refunds are normal? Sage have a refund option and it’s very easy. Refunds from suppliers such as gas, electricity, telephone, bank are pretty normal so we should have to find way arounds to accommodate them.

[Joelle]

Thanks Beth. So there is no “official” way of doing it? I will do the way you said as that seems easier than Alan’s below!

[alan_mcbrien]

There does seem a few steps backwards to get any overpayments on a supplier account to a position where they are refundable from a specific supplier account.

The glitch is payments have been paid via direct debit each month, but when the account is closed (transferrred to another supplier) you will be holding pre-payments (unallocated payments) , as the final bill does not include this money or shows that a refund will be given for the overpayments.

So a final line added to the final bill from the supplier for the balance of pre-payments on the account. Then create a credit note from the invoice and remove the lines that are legitmate usage lines and just issue the credit note for the final line from the final bill.

Also this knowledgebase article might provide some background about the subject Managing credit notes

[Lurch]

I think this relates to a feature request I made (which ended up as a private message so I can’t link it here) but it was essentially to allow credit notes to be just posted to an account as per any other purchase invoice rather than all this specific crediting to invoices.

I made a feature request for this as it seems to be a not unpopular request.

Post credit note directly to account (not to specific invoice)

Quickfile handles credit notes completely differently to an invoice whereas as far as I am concerned they are exactly the same when used on a supplier credit account, the balance of the account simply goes up or down depending on whether it is a credit note or invoice. I don’t necessarily want to attach a credit note to a purchase invoice, I just want to have it adjust the suppliers account balance. Credit notes as they function now work fine for posting against a single cash invoice refunded i…

[alan_mcbrien]

Only credit note without invoice

I have in Banking an account “Credit Notes/Refunds” in the Equity Accounts section. This allows for posting of credit notes to this account prior to receiving the refunded funds on a credit card or through the current account or other. There are usually a few days between the date shown on a credit note to when the monies turn up in a bank account. It also allows the facility to chase up a supplier if the refund has not been received, for example this happened when changing over from one Electr…

Another posting from today about managing Credit Notes/Refunds

[Joelle]

You’ve all been great - thank you!!

[FaustoS]

Hi Lurch
Interesting.
I have problems too with EDF invoices, direct debits, a refund and again more direct debits,
I find it a true headache.
I managed to allocate several invoices as “payment on account assign later” to a Supplier account and all work fine when tagging.
Instead when doing the same with EDF invoices it is a nightmare specially with the refund which has to be attached to a particular invoice instead of the Supplier account.
The problem is that when tagging the refund the invoice where the Credit Note should be created against, is not available as it is in the Supplier account.
How did you solve this problem?
I am stuck and cannot understand what alan_mcbrien said about it as he refers to a closed account not to an open and ongoing account as I have.
Thank you!

[FaustoS]

Hi Alan,
I tried to do the way you said but still doesn’t work.
On the EDF Supplier management account I logged all the Direct Debit prepayments and Invoices.
I then logged payments “apply from credit” to reduce the balance which shows prepayment of £94.16.
This figure would match the last invoice balance calculation but it doesn’t as it exclude the refunded £85.00. Infact the Invoice balance is £9.16 in credit. (£94.16 - £85.00 = £9.16)
I have tried to create, as you said, a purchase for £85.00 and then a credit note on this purchase which I logged as “refund to xxx Bank Account”.
The problem is that I now have an “fake” invoice which justifies the overpayments but still I cannot Tag the transaction on the Bank Account.
Ie: When I clic Tag me, Refund from a Supplier, the last invoice of £85.00 will not appear.
Instead I have now on my Bank Account a double entry of £85.00 from EDF, one coming from the upload of the cvs and one coming from the manual log.

[QFSteve]

Hello @FaustoS

I found a similar query in the forum which may help

Refund from Supplier - EDF

Hi 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 Thanks