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How to record a refund to your bank account for a debit card transaction in Accounting Professional 2007, in Accounting Express 2007, and in Small Business Accounting 2006
| Article ID | : | 946359 |
| Last Review | : | January 25, 2008 |
| Revision | : | 1.0 |
INTRODUCTION
This article describes
how to record a refund to your bank account for a debit card transaction in
Microsoft Office Accounting Professional 2007, in Microsoft Office Accounting
Express 2007, and in Microsoft Office Small Business Accounting
2006.
MORE INFORMATION
To record a refund to your bank account for a debit card
transaction, create a credit memo. Then, deposit the money back into the
bank account. To do this, follow these steps:
| 1. | Create a vendor credit memo. To do this, follow these
steps:
| a. | On the Vendors menu, point to
New, and then click New Credit
Memo. | | b. | In the Vendor name box, select the
appropriate
vendor. | | c. | In the Items and Expenses pane, enter information in the boxes for the items and the expenses that were returned to the
vendor. | | d. | Click Save and Close. |
|
| 2. | Deposit
the refund into the bank account. To do this, follow
these steps:
| a. | On the Banking menu, click
Make Deposit. | | b. | In the Deposit in box, select the bank
account that was used for the
original debit card transaction. | | c. | In the Payments received pane, click
the arrow under the Type column, and then click
Vendor. | | d. | Click the arrow under the Account
column, and then select
the vendor that you used in the vendor credit memo. | | e. | In the Amount column, type the amount
of the refund. | | f. | Click Save and Close. |
|
| 3. | Apply the credit memo to the deposit. To do this, follow these steps:| a. | On the Vendors menu, click Pay Bills. | | b. | In the Pay from field, select the same account as the deposit. | | c. | Under Bills due, click to select the check box for the deposit in the list, and then click the link in the Credits column. | | d. | In the Apply Credits and Payments dialog box, click to select the check box for the credit memo, and then click Adjust. | | e. | In the Pay Bills dialog box, click Save and Close.
|
|
APPLIES TO
| • | Microsoft Office Accounting Express 2007 |
| • | Microsoft Office Accounting Professional 2007 |
| • | Microsoft Office Small Business Accounting 2006 |
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