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Article ID: 946359 - Last Review: September 10, 2011 - Revision: 2.0

How to record a refund to your bank account for a debit card transaction in Accounting Professional, in Accounting Express, and in Small Business Accounting 2006

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INTRODUCTION

This article describes how to record a refund to your bank account for a debit card transaction in Microsoft Office Accounting Professional, in Microsoft Office Accounting Express, and in Microsoft Office Small Business Accounting 2006.

MORE INFORMATION

To record a refund to your bank account for a debit card transaction, create a credit memo. Then, deposit the money back into the bank account. To do this, follow these steps:

Create a vendor credit memo. To do this, follow these steps:
1. On the Vendors menu, point to New, and then click New Credit Memo.
2. In the Vendor name box, select the appropriate vendor.
3. In the Items and Expenses pane, enter information in the boxes for the items and the expenses that were returned to the vendor.
4. Click Save and Close.
Deposit the refund into the bank account. To do this, follow these steps:
1. On the Banking menu, click Make Deposit.
2. In the Deposit in box, select the bank account that was used for the original debit card transaction.
3. In the Payments received pane, click the arrow under the Type column, and then click Vendor.
4. Click the arrow under the Account column, and then select the vendor that you used in the vendor credit memo.
5. In the Amount column, type the amount of the refund.
6. Click Save and Close.
Apply the credit memo to the deposit. To do this, follow these steps:
1. On the Vendors menu, click Pay Bills.
2. In the Pay from field, select the same account as the deposit.
3. Under Bills due, click to select the check box for the deposit in the list, and then click the link in the Credits column.
4. In the Apply Credits and Payments dialog box, click to select the check box for the credit memo, and then click Adjust.
5. In the Pay Bills dialog box, click Save and Close.

APPLIES TO

Microsoft Office Accounting Express 2007
Microsoft Office Accounting Professional 2007

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