Question asked by Michelle Underwood 7 years ago
Hi, I'm sure there's a really straight forward solution, but I haven't gotten my head round it yet so any suggestions would be gratefully apprecitated! A client pays us by mistake and we return the money eg £100 comes in with no invoice to allocate against and then we pay £100 back. How would everyone else process this please to ensure the client's account sits at £0? Many thanks
Hi Michelle,
In this case, the best way to process this would be through the Money In feature for the receipt of money and the Money Out for the payment. This can be done by heading to Money > Bank Accounts > Click on Money In > Fill in the details of the receipt > Click Explain Money In > On the next page, select the relevant customer and VAT rate > Then hit Add New Transaction as shown below:
Likewise, you would do the same thing for the payment but this time, using the Money Out feature.
I hope this has been helpful!
Regards,
Tommy
Best answerI don't think that's going to cut it as the money in will show in the Sales ledger and the money out in the purchase ledger which would be incorrect as no sale or purchase has occured?
Hi Michelle,
No, this would be appropriate as you did physically receive and pay the money. The Money In/ Out function from the Bank Account would create a receipt and payment but would not affect the debtors or creditors account.
Regards,
Tommy
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