Background - I’ve received a payment from bank as way of compensation for an error they made, how would I go about entering this payment as they are not setup as a supplier?
Thanks
J
I’m assuming the error of the bank was treated initially by the Accounts people as a Bank Charge.
Yes? Then you may do the following:
a) Debit Bank Account, Credit Bank Charge (since this account was debited in the first place), I’ll go with this though, or
b) Debit Bank Account, Credit Bank Income.
Hope this helps.