I'm having problems posting a refund made to one of my credit card holder not by a supplier but from my main bank account as a consequence of a payment I made to the credit card account. On one of my account holder credit card statement among the purchases of the month there's a credit transaction shows as "Payment received- Thank you" which is not a refund from a supplier so I cannot treat with a credit note and a consequently Bank receipt. Could anyone please help me to deal with this taking into account I'm using Sage Instant accounts? It's worth noticing that this transaction involves either the main bank account 1200 from which I transfer money over to 1240 (credit card account), the 1240 from which I then make payments to each credit card holder and the credit card holder accounts set up as suppliers. I hope this makes sense to you.
Thanks a lot in advance, you are saving me from madness :)
I am not sure I am understanding you, but if you are saying that the bank was refunded some money from the credit card, due to an overpayment perhaps, you would post a bank transfer from the credit card back to the bank account.
If you are saying you have posted an expense payment from the credit card account and that has been refunded, you would do a bank receipt to the credit card, posting the same analysis as you posted the original payment.
What happened was that the physical credit card statement had a payment that was over and above the usual minimum payment that was made from the main bank account. What I usually did when paying credit card statements was using off the amount transferred from the main bank account to the credit card account and hopefully get a 0 balance at the end. It didn't work when the extra payment was made though as I maybe had to consider it as being from the main bank account directly to the supplier account.
On the attachment you will find the right column showing the part transfer made from main bank account to credit card account. The amount in the credit card account has then been allocated to the supplier account to repay the credit card statement. I hope it makes a bit more sense now.
Unfortunately, this photo doesn't really explain to me what has happened in Sage, or on the actual credit card statement.
Firstly, have you reconciled your bank account correctly to each statement?
Have you been reconciling the credit card account? You should be receiving a statement each month and reconciling Sage to it
Reconcile is there to help you pick out the differences on Sage to the actual statements, so you can adjust.
You are showing me a £500 payment to the credit card. If you made that bank transfer on Sage, and had posted a £24.20 invoice, Sage should be showing the £475.80 as a debit. And the credit card statement would be showing £24.20 payment and a £500 income. If there is anything else, other than those two transactions, then that is your problem.
You mentioned a supplier account, and I am confused about that? The £500 appears to be a simple bank transfer from the bank to the credit card. Based on what I have said above, check your credit card statement for that month. It should show a £24.20 payment and £500 receipt, based on what you have said. But if the payment made by the card are more than the £24.20, then that's your problem.
