Best Of

Hi Denise

This would be Post June 1983 Untaxed Element (O) 😊

(NOTE: This payment would be considered an ex gratia, gift or golden handshake so is not classed as OTE & therefore no Super - or Leave accruals - would apply)

if you go to the reconcile window and enter the closing balance as it was the last time you reconciled, as per the bank statement, you should be able to tick that same transaction and the difference should be zero.

Call me if you need a hand, reconciliations are my strong point

Kris

0415 940843

thanks Shaz I may have to enter one of these in the coming weeks

Create a Bill Credit using the exact same info (eg Supplier, Account & Tax Code) as the original Cheque - The purpose of this is to reverse the expense & the associated GST component.

Then, enter a Make Deposit - dated as per the refund received - with the same Supplier, posting to your Accounts Payable account - This will then show in Pay Bills for you to allocate the Bill Credit against.

NOTE: Due to a long-term glitch, the Payee name drops out on stand-alone Deposits (meaning this Deposit won't show in the Supplier's transactions) To fix this, locate the transaction in the bank register, add back the Supplier name again there & save (Record) 😊

As an FYI … I'm not a fan of using journals for day-to-day entries as they don't provide enough clarity as to what's occurred, are not understood by everyone & can also report incorrectly in the Tax Detail reports. Journals are best used for EOFY depreciation & income distribution. The majority of scenarios can be better catered for via relevant transactions.