Recently, I received this question:
I bought inventory and pre-paid the invoice with a credit card. When I received the inventory, they said they had misquoted me and refunded me $50.00 on the order. The refund was made back to the credit card that was used to pay for the order.
The question (in two parts):
- This is a refund on the the whole order, not just a handful of the inventory itemsÂ (i.e. I am not returning anything, I’m just getting some money back on the job overall). Do I handle that by using Bill–>Misc and entering negative $50Â as the bill, which generates a return credit to me? AND
- If I do that, I am then being asked to to apply that $50 to one of my accounts, but which one?
Iâ€™ve been supporting the accounting needs of mac users for quite some time. Until last week, I was using my mac mini to help those clients. I foolishly bought a mac mini because I already had a pc laptop and, like it or not, most accounting is done on the pc platform.Â And I didnâ€™t want to spend the money fully transition.
Last week, a windows update corrupted my computer. I donâ€™t know whatâ€™s wrong with it. It has numerous issues and Iâ€™ll have to reinstall the operating system (man, I hate Vista). To get up and running quickly, I transitioned to the mac mini.
I LOVED it (except being chained to my desk and only having one monitor). I said â€œto heck with the budget, I NEED a MacBookâ€. Seriously. I know, Iâ€™m an accountant. I reason that Iâ€™m much more efficient on one machine rather than two. Plus cut and paste between the virtual machine and the mac is awesome!