I'm not sure how to record a refund on my credit card statement when I'm doing my reconciliations for both the credit card payment and then in our bank account reconciliation.
I input all of my credit card transactions under "Purchases/Receive inventory and I'm not sure if I should include the refund in there too. When I go to "pay" the credit card statement it is a different amount than what is on my bank statement. It is then throwing off my bank account reconciliation too. Not sure I'm explaining this properly but hope someone understands. I'm not an accountant so if anyone can explain in simple terms I'd appreciate it. Thanks