Hi again,

I bought a modem router using my business debit card and now need to return it as it's faulty. I recorded the original payment as a money paid out transaction from my business current account as normal. How do I record the credit back in to the account? I guess the credit will go directly on the same debit card I used to make the payment.

Many thanks!

Adam

Hi Adam,

Just record a Money Received transaction. Enter the supplier name (the same as the original payment) and set the Deposit Into Account to your debit card account. The other fields should be automatically populated as follows:
- VAT Treatment should be same as the original purchase
- VAT Rate should be the same as the original purchase
- From Account should be the same as the original allocated account

Cheers,

Hi Mark,

That's straightforward!

Thanks again for your quick response.

Kind regards

Adam