Entering a Refund or Reimbursement
Posted by on 13 September 2018 08:24 PM
A refund or reimbursement would be entered as a negative expense. |
Go to the Add Expense window under the Financial menu.
If you received a physical check not a direct deposit, set the account drop down menu to the blank space at the top. If the money was refunded back to your credit or debit card, select the appropriate account from the drop down menu.
Use the date you deposited the check, or received the credit and set the Payee to your name or the studio name.
Depending on what the refund/reimbursement was for, set the Category and Item.
Then for the amount enter a negative, for example -123.
Once you Save this expense the check will be available for Deposit in your checking account, or the credit will show in the Modify Account window.
If you need any help with this let me know and I would be happy to call and walk you through it.