Forum Discussion

JSSE's avatar
JSSE
3 years ago

Part refund from a supplier - credit made to our bank account

I purchased items from Bunnings and then returned some items.  Bunnings issued the part refund to the bank account.  How do I reflect this transaction in MYOB to ensure the purchase, part refund and reconciliation all accurately reflect/relate please?

  • Tracey_H's avatar
    Tracey_H
    3 years ago

    Hi JSSE 

     

    Thanks for your post. Enter the purchase as normal and apply the full payment, you can reconcile the payment transaction with the withdrawal from your bank.

     

    For the refund, enter a negative Enter purchase transaction for the refund amount. Then go to Purchases register>>Returns & Debits>>click on the purchase transaction and click on Receive refund. Process the refund transaction. You can reconcile the refund with the deposit into your bank.

     

    These help articles have detailed instructions:

    Supplier returns, debits and refunds

    Settling supplier debits

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

  • JSSE's avatar
    JSSE
    3 years ago

    Reflecting part refund of purchase from a supplier

  • Tracey_H's avatar
    Tracey_H
    Former Staff
    3 years ago

    Hi JSSE 

     

    Thanks for your post. Enter the purchase as normal and apply the full payment, you can reconcile the payment transaction with the withdrawal from your bank.

     

    For the refund, enter a negative Enter purchase transaction for the refund amount. Then go to Purchases register>>Returns & Debits>>click on the purchase transaction and click on Receive refund. Process the refund transaction. You can reconcile the refund with the deposit into your bank.

     

    These help articles have detailed instructions:

    Supplier returns, debits and refunds

    Settling supplier debits

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

    • JSSE's avatar
      JSSE
      3 years ago

      Hi Tracey_H

       

      Just a quick note to say thank you so much for your help.

       

      Your steps were easy to follow and they worked!!

       

      Much appreciated

       

       

      • Tracey_H's avatar
        Tracey_H
        Former Staff
        3 years ago

        Hi JSSE 

         

        You're very welcome, I'm glad to hear it worked for you.

         

        Please don't hesitate to post again if you need help in the future.

    • JSSE's avatar
      JSSE
      3 years ago

      Hello Tracey_H

       

      Thank you for responding.

       

      Just to clarify, the purchases made were for products that do not form part of our inventory.  Would the same process apply in relation to entering the purchase and applying the full amount etc?

       

      Thank you

      • Tracey_H's avatar
        Tracey_H
        Former Staff
        3 years ago

        Hi JSSE 

         

        When entering the purchase you can change the layout to Service to record a non-inventory transaction:

         

         

        Then record the payment in Pay bills as normal.

         

        Please let me know if you need further help.

         

        If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.