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How to record a refund to a bank account for a credit card transaction in the UK version of Office Accounting Professional 2008

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Article ID: 961690 - Last Review: September 10, 2011 - Revision: 2.0

How to record a refund to a bank account for a credit card transaction in the UK version of Office Accounting Professional 2008

INTRODUCTION

This article describes how to record a refund to a bank account for a credit card transaction in the United Kingdom (UK) version of Microsoft Office Accounting Professional 2008.

MORE INFORMATION

To record a refund to a bank account for a credit card transaction, follow these steps:
  1. Create a supplier credit note. To do this, follow these steps:
    1. On the Supplier menu, point to New, and then click New Credit Note.
    2. In the Supplier name box, enter the supplier that you want to use.
    3. In the Products and Expenses pane, enter the required data in the boxes of each product and each expense that was returned to the supplier.
    4. Click Save and Close.
  2. 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, enter the bank account that you used for the original credit card transaction.
    3. In the Payments received pane, click the drop-down arrow in the Type field, and then click Supplier.
    4. In the Account field, click the drop-down arrow, and then click the supplier that you used in the supplier credit note.
    5. In the Amount field, type the refund amount.
    6. Click Save and Close.
  3. Apply the credit note to the deposit. To do this, follow these steps:
    1. On the Suppliers menu, click Pay Purchase Invoices.
    2. In the Pay from field, enter the account that you used for the deposit.
    3. In Purchase invoices due pane, click to select the check box for the deposit, and then click the link in the Credits field.
    4. In the Apply Credits and Payments dialog box, click to select the check box for the credit note, and then click Adjust.
    5. In the Pay Purchase Invoices dialog box, click Save and Close.

APPLIES TO
  • Microsoft Office Accounting Professional 2008
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Nigel Report As Irrelevant  
Written: 7/23/2009 8:24 AM
Thank you so much! This really helped me sort this out.

Fred Report As Irrelevant  
Written: 3/9/2010 2:17 AM
Thank you, I was going insane trying to figure this one out. Really helpful!