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MYOB – Customer paid me twice – How do I fix in my bookkeeping as I have confused myself?

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MYOB – Customer paid me twice – How do I fix in my bookkeeping as I have confused myself?

MYOB – Customer paid me twice – How do I fix in my bookkeeping as I have confused myself?

ClientI have a client who paid me twice ($80.03 twice, total $160.06 arrived in my account) and I know in the bookkeeping I needed to create another invoice to take up the extra in the bank, and then a credit for the client. I have already refunded the money to them. I started entering transactions, but now I am trying to sort out what I have entered and got confused. Can you help?

AnswerGet the full picture to start – that is all transactions that have been raised –

Ctrl+Y and search Card for transactions and we get –

MYOB sort refund

So in MYOB now, there is (as above) –

  • 3058 Inv 28/4 – Original Inv
  • 3062 Inv 5/5 – Credit /Reversal
  • SJ …044 6/5 = which is applying the credit

And nothing to pick up the $160.06 on the bank!!!

What we need is to enter in the order the events occur

3058 Inv 28/4 – Original Inv                          $80.03

Xxxx Inv 5/5 – to pick up EXTRA paid          $80.03                  

NB – easiest to start a new Inv

(Total Received, as on Bank                         $160.06 for the 2 Inv above)

Then –

Receive Payment                                          $160.06 which will apply to 3058 and xxxx – and it will match the bank deposit

Next create a CREDIT for the Overpayment

Xxxx Inv 5/5 – Credit Reversal                    -$80.03

Then –

Enter Refund – click Register icon at bottom of Invoice window (Sales Register) > Returns and Credits (tab) > highlight correct credit you want > at lower LHS click ”Pay Refund> update Cheque No. to W (withdrawal), Date and Bank account at top > Record.

Need help? Not sure? Call for FREE 30min advice / strategy session today! 0407 361 596 Aust

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Author: accountkeepingplus

Administration, bookkeeping and compliance for small business, Training, trouble-shooting, or we can do the books and payroll for you! Self Managed Superannuation Fund Service Provider, free support MYOB Certified Consultant, Reckon/QuickBooks Professional Partner.

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