Jose,
Did you actually receive a check or wire from the vendor? If so, you
should process it as a miscellaneous cash receipt in Accounts
Receivable:
Financial Management > Accounts Receivable > General Operations > Cash
Receipt Entry > New Group > New Misc Payment.
Your financial people should know what account to apply it to. If you
actually received a check or wire for the refund, you do not need to
create a debit memo. If you did not receive cash, then you would create
a debit memo to deduct that amount from the next check.
Tim Hager
Controller
Diba Industries Inc.
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Jose Gomez
Sent: Wednesday, November 07, 2012 8:39 AM
To: Vantage
Subject: [Vantage] Vendor Refud (overpayment0
Hi All,
I am not much for the fiance portion so here is a stupid question.
If you overpay a vendor, how do you handle the refund? I made a debit
memo.. but is that it? How do I reflect that cash bback in the bank?
Thanks!
*Jose C Gomez*
*Software Engineer*
*
*
*
*T: 904.469.1524 mobile
E: jose@... <mailto:jose%40josecgomez.com>
http://www.josecgomez.com
<http://www.linkedin.com/in/josecgomez> <
http://www.facebook.com/josegomez>
<http://www.google.com/profiles/jose.gomez> <
http://www.twitter.com/joc85>
<http://www.josecgomez.com/professional-resume/>
<http://www.josecgomez.com/feed/>
<http://www.usdoingstuff.com>
*Quis custodiet ipsos custodes?*
[Non-text portions of this message have been removed]
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[Non-text portions of this message have been removed]
Did you actually receive a check or wire from the vendor? If so, you
should process it as a miscellaneous cash receipt in Accounts
Receivable:
Financial Management > Accounts Receivable > General Operations > Cash
Receipt Entry > New Group > New Misc Payment.
Your financial people should know what account to apply it to. If you
actually received a check or wire for the refund, you do not need to
create a debit memo. If you did not receive cash, then you would create
a debit memo to deduct that amount from the next check.
Tim Hager
Controller
Diba Industries Inc.
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Jose Gomez
Sent: Wednesday, November 07, 2012 8:39 AM
To: Vantage
Subject: [Vantage] Vendor Refud (overpayment0
Hi All,
I am not much for the fiance portion so here is a stupid question.
If you overpay a vendor, how do you handle the refund? I made a debit
memo.. but is that it? How do I reflect that cash bback in the bank?
Thanks!
*Jose C Gomez*
*Software Engineer*
*
*
*
*T: 904.469.1524 mobile
E: jose@... <mailto:jose%40josecgomez.com>
http://www.josecgomez.com
<http://www.linkedin.com/in/josecgomez> <
http://www.facebook.com/josegomez>
<http://www.google.com/profiles/jose.gomez> <
http://www.twitter.com/joc85>
<http://www.josecgomez.com/professional-resume/>
<http://www.josecgomez.com/feed/>
<http://www.usdoingstuff.com>
*Quis custodiet ipsos custodes?*
[Non-text portions of this message have been removed]
********************************************************
The information transmitted is intended only for the person or entity to
which it is addressed and may contain confidential and/or privileged
material. If you are not the addressee, any disclosure, reproduction,
copying, distribution, or other dissemination or use of this communication is
strictly prohibited. If you have received this transmission in
error please notify the sender immediately and then delete this e-mail.
E-mail transmission cannot be guaranteed to be secure or error free as
information could be intercepted, corrupted lost, destroyed, arrive late or
incomplete, or contain viruses.
The sender therefore does not accept liability for any errors or omissions
in the contents of this message which arise as a result of e-mail
transmission. If verification is required please request a hard copy
version.
********************************************************
[Non-text portions of this message have been removed]