InstantForum.NET v4.1.4MySF Forumshttp://www.mysf.com.au/members/info@mysf.com.auWed, 08 Feb 2012 07:49:12 GMT20http://www.mysf.com.au/members/Topic3492-25-1.aspxHi,<br><br>The latter of the two suggested options is better because it shows the payment and the partial refund separately, as they happened. <br><br>Please process the journal exactly as suggested in your post using a General Journal or Cash Receipt.<br><br>Regards,<br><br>MySFMon, 13 Aug 2007 16:27:09 GMTMySF2http://www.mysf.com.au/members/Topic3492-25-1.aspxCan you please advise the best way to handle a refund which includes GST?</P><P>I recently recorded a cash payment of $99 for Admin services. The transactions were CR Bank A/C $90, DR 5115 Admin Costs $90 DR 2510 GST Paid $9.</P><P>I was later advised of an error - the cost should have been $88 - and I received a redund of $11.</P><P>I could just reverse the original entry and enter the correct amounts in a new transaction, but then the refund would not show up in the Bank reconciliation.</P><P>The other option that I considered was entering a journal with DR Bank A/C $11,CR 5115 Admin Costs $10 CR 2520 GST Collected $1.</P><P>What is the best way to handle this?Mon, 13 Aug 2007 03:04:26 GMTpelagic