Supplier Payment Refunded
Hi. We made a payment to a supplier but the account was closed so the payment was refunded to us. We've made a new payment today to the supplier's correct account.
I want to ensure this is all being processed correctly as I can't just change the date on the payment transaction as I'll need to record the refund and the new payment. Can anyone explain how to do this correctly??
Hi
I suggest that the easiest solution you could try is to allocate the returned payment and the corrected payment to a clearing account (if you have one) or to the same account with the same gst code. Use the one originally used if that suits.
the transactions will cancel each other out and the original payment will still be recorded
hope that helps
Lisa
