Question asked by Kate Glover 9 years ago
I have had a credit note on my suppliers ledger for what seems like forever! Now the company have finally agreed to refund the money direct into my bank account. How do I process this refund so it removes the credit note from my ledger?
Hi Kate,
In that case, you will need to create a dummy invoice and use the existing credit note to pay it off. You can then create a refund as usual from the refund tab on the bank statement import.
If you need the date of the refund to be different than the payment date then this is a little more complicated, as you would need to create a new invoice instead of a refund and give the invoice a negative unit price. You can then pay this invoice and it will effectively be a refund with the date of the original credit note (if desired) and the more recent payment date from the bank statement.
I hope this helps, All the best
Best answerHi Kate,
The problem here is that credit notes can only be applied to unpaid invoices (at some point in the future this will be changed). Has your credit note been included in any VAT returns?
Yes, it has been included in VAT returns
Hi Kate,
In that case, you will need to create a dummy invoice and use the existing credit note to pay it off. You can then create a refund as usual from the refund tab on the bank statement import.
If you need the date of the refund to be different than the payment date then this is a little more complicated, as you would need to create a new invoice instead of a refund and give the invoice a negative unit price. You can then pay this invoice and it will effectively be a refund with the date of the original credit note (if desired) and the more recent payment date from the bank statement.
I hope this helps, All the best
Best answer
You must 