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customer refund from overpayment entered to suspense

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xgem1984x

customer refund from overpayment entered to suspense

Post by xgem1984x » 04 Nov 2015, 13:12

Hi
A customer overpaid us and I entered this to suspense. They have now asked for a refund of this.
This is fine however the overpayment was made in last years accounts and I'm not sure how to enter this in sage when I refund them in this years accounts.
Can I refund them and enter the refund payment to our suspense account?
Gemma.

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brucedenney
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Re: customer refund from overpayment entered to suspense

Post by brucedenney » 04 Nov 2015, 17:19

"A customer overpaid us and I entered this to suspense"

What? If they overpaid it should have gone on their account showing a negative balance.

Putting it in suspense make it appear that you are trying to hide their overpayment from them, this is theft and you personally could be facing criminal proceedings.

By putting it in the P&L rather than leaving it in the Balance sheet you may have "taken" the money into your earnings and that would be theft. It all depends on how your accountants treated the item, if they moved it back to the Balance sheet then it is fine.

You should refund from the suspense as that is where it went last year. You accountants can move it back from the Balance Sheet.
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