User Support Forum

What is the best way to handle the following situation:

You write a check to XYZ company and check clears.
You return item to XYZ and they give you a cash refund or check.
This cash/check is deposited with regular weekly offerings.

What is the best way to enter this refund?
Unless it is entered as a debit to the expense account it originally came from, it throws off the yearly budget amount for any particular account because it was spent but refunded.

Could you possibly walk me thru this? Am I making any sense?
It needs to show as income also, because otherwise, the deposits won't match the contribution fund reports.
Thanks for your help.
Deb

deb,

The way I do this, is I do a seperate deposit from the regular weekly offering so that is seperated from the contributions information. I then make an entry in 'Fund Accounting - Enter Transactions' describing it as a deposit in the Ref/Check no. field, then adding any other information to the Description field to clearify the purpose of the deposit. I then enter it as a Debit to the checking account and a Credit (not a debit) to the account that the money originaly came from. Make sure you post this as soon as you have finished the transaction.

Exaclty, nothing that is not a weekly offering should be entered via contributions, unless its for a special offering, or something that has been setup as a special fund.

As was mentioned these types of receipts should be directly entered into Fund Accounting on separate deposit slips.

Deb,

We do a general ledger entry and a separate deposit of any refunds, insurance checks, etc.

Jeff