Refund from Supplier

Refund from Supplier

05/26/2014 | 03:58

Learn how to record a refund from supplier and match off the negative balance in the supplier's accounts

Refund from Supplier

Created: 05/26/2014

00:00:00 Start : Introduction

00:00:13 Sample of supplier account showing negative balance

00:00:37 A credit note for a refund

00:00:50 Supplier issue a cheque to refund the excess

00:01:00 At Accounts Entry, select Supplier's Debit Journal

00:01:13 At COA, Debit the bank and the amount

00:02:03 View supplier's ledger

00:02:29 View supplier's aging

00:02:50 Go to A/c Entry, click payment

00:03:01 Select contra fast code instead of the bank fast code

00:03:07 Click [Offset]

00:03:10 Select the DN and CN to cancel the amount away

00:03:32 Return to supplier aging to view the report again