For scenarios where you will be receiving a refund payment from a Contractor/Supplier
Create a credit note for the Amount that the Contractor will be refunding.
This would normally be the same transaction type you used for the initial Contractor charge and you will need to put a minus in the amount field.
Create another transaction using ‘Contractor refund‘ transaction type
This should always be a positive amount
You will need to allocate the ‘Contractor Refund’ transaction to the credit note
On the Contractor Statement, Click on the drop down arrow on the ‘Contractor refund’ transaction > Select the option ‘Allocate to Charge’
In the ‘Amount Paid’ field, input the exact amount you have received as a refund from the Contractor
Step 4 – If using the Arthur Bank Feed
You will then be able to reconcile the ‘Contractor Refund’ transaction against the Received Money Bank Statement line.
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