• Refund of prepayment

    I made a prepayment to a vendor and recorded it. However, the vendor has now refunded the amount back to us. I'm not sure how to account for it at the moment, but the refunded amount has been deposited into our bank. any guidance?
  • Refund overpayment to client.

    How do I issue a refund to client client who has overpaid? Cheque was deposited and overpayment was posted as a deposit.