Bill payment duplicated in bank account
Good afternoon,
We have inadvertently duplicated a bill payment in our bank account. Could anyone advise the best way to record this in Reckon Hosted please? The supplier will be returning the second payment to us.
Thank you.
Comments
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I would record the second one as a cheque with no tax code, and post to a clearing account or Contra and when the deposit comes in enter as a make deposit to the same account
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I would not follow Kris's suggestion. I would post the cheque to accounts payable against the creditors name. When it comes back, make a deposit to the same account again using the creditors name on the deposit. That will make the bank agree with the creditors statement.
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Of course that’s another option but unless more info is necessary I prefer the KISS method
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Have to agree with Zappy on this one - If you’ve made 2 payments (albeit unintentionally) you want both payments showing on your Bank Rec so it reconciles as per your Statement … 1 as the original Bill Payment, the 2nd as a stand alone Write Cheque to the Supplier posting to your Accounts Payable (no tax code!) with the Supplier name again in the Customer:Job column.
This will then reflect in your Pay Bills window as a Bill Credit which you can then allocate to a subsequent Bill or offset against a refund (Deposit) accordingly. (NOTE: If the amount is refunded, make sure your Deposit also posts to the Accounts Payable account - in the Account column - to enable this action!)
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I have to agree with me too Shaz
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