Bookkeeping Question regarding mis-refund

[ragdon]

Hi All,
I recently purchased an Item, for £54.99, however it was surplus to requirements and so i took it back to the shop for a refund. However I'd lost the receipt, but the cashier was happy to refund without the receipt. From memory I said the ammount was £51.49, which was the ammount refunded.

My question is, how do i account in sage for the missing £3.50?

[elainec100@cheapaccounting]

Have you record both the cost and the refund?

[sanjiv]

I am not sure about Sage but in VT you can write it off. Might be similar in Sage.

[Homshaw]

Depends on how you made the original entries

[Jenni384]

The missing £3.50 is still a cost in your accounts.

Eg. Bank Payment to Office Expenses £55

Then bank receipt (refund) to Office Expenses ££51.50

The balance of £3.50 is still shown as a cost as this portion didn't get refunded.