Hi! I wanted to follow up one more time on the steps to record refunds and payments all in one transaction from Shopify in my bank feed.
I have a transaction of $$ in from Shopify for $45,500. This is for one invoice for $50,000, and one refund for $5,500 ($5,000 in product sales, $500 in sales tax). I click on "match."
I see in the invoice for $50,000 and check the box to match it.
HERE'S WHAT I'M STUCK ON: I need to record the return of the product, the refund of the product, $$ wise, and the refund of the sales tax, and I'd like to somehow indicate under that customer that they returned the product. This seems like all of this should be done by refund receipt and I should be able to match the banking transaction to the invoice and the refund receipt!!
Could you please walk me through step by step, how to accomplish this? I don't know if I'm just not getting this or what the issue is but I tried creating an expense as mentioned but then it doesn't solve each of these issues.
Thank you!
At the end of the day, I have to be able to reconcile the bank transaction, and I need to be able to record that we did have a product returned (the refund receipt). I'm still lost on this, could you please detail the exact steps?
