Record the refund amount to ensure your account balances are correct. Post a refund against a stand-alone credit note or a payment on account. If you need to refund a credit note or payment allocated to an invoice, you have two options: - Create a stand-alone credit note and then refund it. The credit note reverses the purchase recorded by the original invoice, and the refund reverses the payment.
- Unallocate the original invoice and vendor payment or credit note. The invoice becomes outstanding, and the payment or credit note becomes a stand-alone item. Record a refund against the credit note or payment on account. Choose this option if you intend to make another payment to the vendor for the same invoice later.
To post a vendor refund from Banking If you're refunding a payment on account, you must use this option. Go to Banking and create a refund from the New Entry menu. Select the correct bank account when entering the payment details. You can't partially refund a payment or credit note. Apply the needed amount to the invoice, then refund the rest. - Go to Banking.
- Select the required bank account.
- Click New Entry, and then click Sale/Receipt to open the Receipt (Incoming money) page.
- Click the Vendor Refund tab and complete the necessary information. By default, all outstanding credit notes and payments on the account appear. To view all credit notes and payments on your account, choose All from the Display drop-down menu.
| Vendor | Enter either the company name or reference or choose the relevant vendor | | Paid into Bank Account | Select a bank account from the drop-down list | | Method * | Specify the payment method | | Date Refunded * | Enter the date of the refund | | Amount Refunded * | Enter the total amount of the refund | | Your Reference (Optional) | If required, enter a reference for this receipt | | Amount Refunded | Enter the amount of the refund | - Select the check box for the credit note or payment on the account that the vendor has refunded.
- Do one of the following:
- Click Save
- Open the Save drop-down menu and click Add Another to add another payment
To post a vendor refund from within a credit note If the vendor partially refunded the credit note, allocate the relevant amount to the invoice before recording the remaining balance refund. - From Expenses, click Vendor Credit Notes.
- Click the relevant credit note.
- Click Record Refund and enter the following information:
| Amount Refunded * | This is the total value of the credit note and you can't change this | | Date Refunded * | Enter the date of the refund | | Paid into * | Choose the bank account used for the refund | | Method * | Specify the payment method | | Reference (optional) | If required, enter a reference | - Click Save.
* Indicates a required field. |