How to Record a Supplier RefundNote: Before recording a refund, you must first record a purchase credit note from the supplier.
To record a refund payment from a supplier, click File > New > Money Received. The Money Received window will appear:
Enter the details into the following fields:
- Paid To: Enter the supplier name. Note that after you
enter a supplier name (rather than a customer name) the Type drop-down box
changes to 'Supplier Refund'.
- Date: The date you received the refund.
- Amount Received: The amount of money you received from your supplier.
- Deposit Into Account: By default, payments are deposited into the
'Money to be Banked' account. (This account represents cash and cheques you have
received but not yet paid into your bank account). If you receive a payment
directly into your bank account, change the Deposit Into Account field to 'Cheque Account'.
- ID: A unique number for this payment.
- Journal Memo: A description of this transaction for your records.
- Type: This is the type of payment. For a refund select 'Supplier Refund'.
- Credits to Settle: Tick the credit note to settle. See
How To Record a Purchase Credit Note
for more information on creating purchase credit notes.
- Total Credit Amount Settled: This is the total of the 'This Payment'
column and must match the 'Amount Received' field.