Returned payment

hi, I have made a payment to an overseas supplier, money left my bank account so i tagged the payout transaction against the supplier invoice.

however after one month, the payment was bounced and returned to my bank account due to suppliers bank issue, i then have to pay to their another bank account which was successful.

My question is: How do i tag the returned payment and the repayment ?


Hello Marvin

If the payment bounced, no money left your bank, delete the original payment and tag the new payment to the invoice.

If the transactions are vat locked you will need to

  • Credit the original invoice
  • Refund the Credit note
  • Re raise/Copy the original invoice
  • Tag the new payment to the new invoice.

Thanks Steve, but the original transactions have already been tagged and accounted for in the last years accounts. Payment was bounced beginning of this year. basically the transactions of returned payment and pay out again should be void, as they were actually for last years.

Please help.

Hello @sinowayuk

You can do as I suggested but use the returned payment date (beginning of this year).

The credit and invoice will net off to zero.

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