When a supplier or contractor refunds money for an expense, record it using an Expense Credit Note — not an Income Invoice. Using an Income Invoice incorrectly inflates your property income figures.
Creating an Expense Credit Note
Navigate to Income & Expenses.
Click New Expense Credit Note in the top-right corner.
Use the same Expense Account Code as the original expense invoice.
Allocating the Credit Note as a Refund
If the Refund option is visible during allocation, select it.
If not, return to the Expense Credit Note, click the Contextual Menu [...], and select Allocate Credit Note.
Choose Refund and finalise.
Processing the EFT Payment
Record the Electronic Funds Transfer (EFT) against the allocated credit note. The effect on your Property Budgets and Financial Reports depends on timing:
If the original expense and refund fall within the same Close of Period, both are nullified in that period.
If they span different months, the nullifying effect is reflected across those months.
Reconciling the Refund
The refund appears as an Unpresented Deposit on the Client/Trust Accounts page.
Once funds are received, use the gold coins icon under the Invoice heading during reconciliation to match the refund to the correct transaction.
For Asia-Pacific customers, the term "Trust Account" is used. European customers refer to this as "Client Account". Client/Trust Accounting is not available to customers in North America. For more information on regional terminology, see our Glossary of Regional Terminology.