Supplier cheque refund

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angmc
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Supplier cheque refund

Postby angmc » 03 Oct 2007, 09:22

Hi

Can anybody tell me how to deal with a supplier refund i.e. we have overpaid them so they have sent us a cheque for the overpayment (not the whole amount of the original cheque).

I've not been using Sage very long so sorry if this is an obvious one!

Anna

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brucedenney
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Postby brucedenney » 05 Oct 2007, 09:19

If you are on standard VAT accounting ...

Raise an Invoice on the supplier account to represent the repayment, it should be t9 and go to 9999. I expect it to be for the balance on the account.

Make a bank receipt T9 to 9999 being the refund from the supplier.

Go to the bank account and do a supplier payment of zero on the account and match off the "dummy invoice" refund to the earlier payment on account.
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angmc
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Postby angmc » 06 Oct 2007, 05:34

Thanks very much for that.

michellet
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Postby michellet » 12 Jan 2008, 17:09

Is it me or is this overly complicated. Why can't Sage give us a button to press or a wizard at least.

I've got a similar situation, received a credit note and cheque from BT so I posted the credit note to the supplier account but left the bank transaction for ages 'coz I just didn't understand the process from the help file

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brucedenney
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Postby brucedenney » 23 Jan 2008, 15:21

Latest version does...
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