If I am refunded a deposit that is part of a larger payment how do I process that in my accounts? The main payment has VAT the deposit does not. Thanks!
Hi davidasmith1986 You will have to create a supplier credit and include the relevant VAT that was on the initial bill. You will then have to create a deposit and in the account column of the 'add funds to this deposit' section enter the creditors account and received from column you should enter your supplier.You will also have to link these two transactions together, create a cheque payment and enter the suppliers name, ensure both transactions are added, save and close.
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