Hi folks, some help for this very confused head please
Example:
I ordered some supplies from Asda online, let’s say for £100, I paid by card at the time of order
When the order was delivered, items such as bananas weighed slightly differently, so the “real” invoice was £98
I then rejected part of the order, maybe because the strawberries were too red or something, value of rejections = £3
I’ve then uploaded my bank statement to QF and it shows:
Payment to Asda £100
Refund from Asda £2
Refund from Asda £3
These all make sense in my head…but what I can’t get my head around is how to raise the purchase and tag these off in QF.
Do I:
A. create a purchase for £100, add a line for credit for £2 and hence grand total of £98 then
B. Tag the bank statement for the £100, apply it to the £98 invoice at which point it says there’s £2 unallocated - which does my head in
or:
C. create a purchase for £100
D. Tag the bank statement for the £100, apply it to the £100 invoice, then
E. Tag the bank statement for the £2 as a refund from supplier, which then asks me which invoice, I say the £100 invoice in C above, which also does my head in
And no matter whether I do A/B or C/D/E - how on earth do I cater for the £3 of rejections?
Very confused here, any help greatfully received! Thanks!
In part it depends, are you paying £100 and then getting £2 back later or are you creating a purchase order for £100 and only being charged £98?
I have this issue sometimes when sending bulk mail and miscount or misweigh something. I just adjust the invoice and pay the corrected amount.
If you are charged the full amount and then refunded then treat it the same as your last example.
The £3 refund tag as “refund from supplier”. It will prompt you for the purchase to apply the credit against.
In all cases you can also manually raise a credit note in QF as soon as you identify the discrepancy. This may result in a duplicate on uploading the bank statement which is simply deleted.
I’m paying the £100 then then getting the £2 and the £3 back later.
I’ve tried different ways to get around it, but am just getting in a muddle.
I tag the £100 on the bank statement as being a payment to that £100 invoice…but then I’m not sure how to tag the subsequent £2 and £3 refunds. It seems that whichever way I try to tag things, QF tells me I have “£x unallocated against this purchase” which is driving me mad!
All I can say is that I did some test transactions to get it clear in my mind before posting. Tagging a bank credit as a refund against a purchase worked fine and created a credit note.
Do this, then if you click through to the payment (click the green “tagged” button and then the link on the word “payment” in the pop up) you’ll see the option at the top to “refund balance”.
