I wonder if anyone could explain the following, I had a question brought to my attention last night about Sage, I said i would try and help but im lost (with my limited knowledge) Company is a LOCAL based networking group, emphasis on LOCAL...
Company issues invoice to ABC for £60 for membership
ABC then move their HQ to outside the local area therefore breaking the rules of the group, so as a gesture of good will they re issue him the money back LESS £10 for the 2 months he had as a memeber.
Now when the secatery tries to reverse the invoice he ends up with negative balances in the 'Bank' and try as he might he cannot figure it out.
Can anyone offer advice? do you need more information?
This is the process I would have followed 1) Raise a credit note for the amount to be refunded 2) Go to CUSTOMER ledger and select WRITEOFF/REFUND 3) Follow the wizard through, selecting the appropriate customer, the credit note, and the bank account from which the funds were repaid to the customer.
A payment will appear in the bank account, and the sales ledger will be cleared to Nil.
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Sheelagh Lyons Bookkeeping Clarity Making Bookkeeping Clearer
The answers I provide are meant as a general guide only and do not constitute advice.
