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When processing a refund to a customer in sap for overpayment is the entry a debit entry?
Wiki User
∙ 12y ago
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Wiki User
∙ 12y ago
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Is refund to customer debit or credit?
Credit to the customer.
What is the accounting treatment for a refund to customer?
Is it right that I debit the refund to [Sales returns] and credit it to [Cash at bank]? But the answer given by my teacher is that the refund is debited to [Trade receivables] and credited to [Cash at bank].
What is the journal entry when you make a deposit?
You would debit cash and credit the applicable account. examples: 2000.00 debit. cash and 2000.00 credit accounts receivable for a payment that was received from a customer. 500.00 debit cash and 500.00 credit supplies for overpayment on supplies.
What is credit and debit note in tally?
Credit authorization scheme.Debit Memo - It is a sales document used in complaints processing to request a debit memo for a customer. If the prices calculated for the customer were too low.
Is a refund a debit or credit in accounting?
debit
Is a refund to a credit card a debit or credit?
Debit
What is the journal entry for overpayment of payroll taxes?
debit payroll taxesCredit cash
What is the opposite of refund?
Debit
What is the journal entry to record a refund?
Debit refund accountCredit cash / bank
What is Journal entry to correct salary overpayment?
debit cash / bank (with overpaid amount)credit salary expenses
When using Journal Entries for Refund Debit AR credit Sales What is the account that the check would offset?
When goods refund:[Debit] Sales returns[Credit] accounts receivable / cashAdjusting entry:[Debit] sales revenue[Credit] Sales returns
What is the use of a check processing software?
Check processing is a convenient online service for those who would like to make payments by check over the internet. It is great for those who do not own a credit or debit card and the customer never has to leave their home.
