11/9/09 I issued an invoice for a credit card sale:
Debit AR(120) $3840
Credit Non-taxable Sales (511) $3840
11/10/09 I received the money into my bank account:
Debit Checking (115) $3840
Credit AR (120) $3840
11/13/09 I was told to refund this customer's credit card, so I did:
11/18/09 The money was credited (subtracted)from my bank account ($3840)
How do I reconcile this in Peachtree? I don't know if it matters but the reason we gave the customer a credit was that the PO was canceled. They have the product. There will be another PO generated in the future (It is highly unlikely that this will be done in November) and they will pay for the product on the new PO.
Thanks so much, Jayne
