[GNC] best accounting practice for refund

[Adrien Monteleone]

Short answer — yes.

Slightly longer answer — figure out what caused that to happen, undo it, and then redo the payment properly.

The reason for doing so rather than just creating a correcting entry is so that you learn what went wrong and don’t repeat the same situation in the future. (you’d also need to make good notations in the correcting entry so that far in the future, you don’t question why it is there)

I’d suspect that you chose the liability account as a source account like you’d choose some asset account. You don’t need to select an account when doing an offset.

Regards,
Adrien

> On Jul 4, 2019, at 12:04 AM, Eric Rathhaus (general) <rathhaus_law at yahoo.com> wrote:
> 
> So I did assign the credit note to the AR account and then processed two payments by selecting the posted invoices and the credit note all in the AR account.  I didn’t do anything else but somehow the remaining balance of the credit note ended up in a liability account. Should I just move it back to the AR account to keep it simple?  
>