Hi, please help i am unable to process a refund from a supplier, which is odd as there is another from the same supplier a month later and i can refund this fine.
The only difference is the amounts of the refunds.
Thanks
Hi @mark3
Can you give us a bit more information on the situation please, and we’ll certainly try our best to help?
Is the value of the refund the same as the invoice, or is it different (and if it’s different, is it less or more than the original invoice)?
How have you tried recording the refund?
Has the money been given back to you, or is it being held on account with the supplier?
money has been refunded, i uploaded .qif all tags from statement
Thanks
Hi, any update? thanks
If all the original payments have been covered by previous purchases (i.e. you haven’t built up a “prepayment” balance) and the excess money has been given back to you then the simplest thing to do is manually create a “purchase” with a negative value (an “ad hoc credit note” that is not tied to any particular original purchase) and select the relevant bank account to receive the refund. This will create a duplicate pre-tagged transaction in the bank account, you can then delete the untagged one from your feed.
The bank tagging interface can only handle refunds that exactly match the total value of a single paid-up purchase.
Hi Ian, I think i understand, as its the QB thats not matching the bank acocunt, can i just create a credit note? Ive never created a purchase with a negative value. Doesnt make sense to me why you ever would, is this a quirk of the software.
“The bank tagging interface can only handle refunds that exactly match the total value of a single paid-up purchase.”
Not sure about this, as it has, the payments to the supplier were ÂŁ25 a month, they issued 2 refunds, 1 for ÂŁ100 and then one for ÂŁ19; which has refunded fine.
Is it possible that the amounts dont have to be exact to be handled, just less than the single paid up purchase? Hence, the ÂŁ19 has been refunded and the ÂŁ100 throws the error.
Thanks
Hi @mark3
This would create a credit note rather than a purchase invoice.
From the bank tagging side, the amounts can be different, but the invoice has to use only one nominal code. If it’s split across multiple, then we wouldn’t know how the refund should be allocated, e.g. if you have 4 items using 4 different nominals, which one of those 4 are being refunded? Similar with an invoice where the amount refunded is greater than the invoice itself.
So what you said is correct - and likely why the £19 is fine, but the £100 isn’t.
In this case, you would create a negative purchase which would be a credit note. This wouldn’t be tied to the original invoice, but it gives you the flexibility of a different value.
Hope this helps.
Hi, I have tried creating an invoice for the amount, yet when i try to tag the refund it still says this.
“Invoices with items posted to more than one nominal account will not appear here. For such cases a manual credit note will need to be applied.
No qualifying purchases could be found to refund against. Make sure the corresponding purchase has been logged before you attempt to process this refund.”
please help.
thanks
Hi, So i tried creating an invoice for the amount, i then viewed the invoice and made it a credit note.
When i go back to the bank account, the refund is still not tagged, when i try to tag i get the same error.
Please help
I think we need to rewind a bit. From what you’ve said so far:
- each month you pay ÂŁ25 to this supplier
- at some point they refunded you ÂŁ100
What is your relationship with this supplier, is it a regular monthly purchase like a subscription fee or is it more like an energy supplier where you make fixed payments each month to build up a balance that is used to settle occasional larger bills?
What exactly do you do when each of the ÂŁ25 payments goes out? Do you create a separate #QFnnnn purchase for each lot of ÂŁ25 or do you log the money as prepayments (pay down multiple invoices, but leave the money unallocated) and make purchases from the bills separately?
What is the nature of the ÂŁ100 refund? Are they actually crediting you to reimburse something they have invoiced you for in the past, or are they simply returning an overpaid credit balance when it turns out your monthly payments were more than they eventually billed you for?
Hi Ian,
Thanks for the help
hope this helps
OK, so in that case by far the simplest thing to do is to create a “negative purchase” credit note for the £100.50 (and another one for the £19 if that isn’t already dealt with). If you’re not VAT registered (or if you are on the flat rate scheme):
- New purchase
- Enter the correct supplier name
- Enter a description of something like “refund for mistaken payments”
- Set the amount to -100.50 - at this point the screen will change from calling it a purchase to calling it a credit note
- Set the date to the day when the money hit your bank account
- Save the credit note, it will ask you which bank account received the refund, choose your current account
- Now go back into your bank account view, you’ll see two identical £100.50 money in transactions, one tagged (from the new credit note) and one untagged (that you uploaded)
- Delete the untagged one
If the incorrect £25 purchases had VAT recorded then when you do the -100.50 you’ll need to make sure you split it up into net and VAT the same way as the original purchases did.
2 Likes
Hi Ian, Many thanks for your help the above well written easy to follow, why they havnt added credit note to options? Anyway its sorted now, thanks for your help.
Normally you raise a credit note by starting from an invoice/purchase - preview the invoice and click “more options” at the top to access “credit note”. The negative purchase thing is a special case for creating an ad-hoc refund that isn’t derived from a previous purchase.
1 Like
thankyou very much…
This topic was automatically closed after 7 days. New replies are no longer allowed.