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Refund from employee [message #242024]

Thu, 31 May 2007 07:27

srikanthreddy1
Messages: 21
Registered: April 2007
Location: Hyderabad

Junior Member

Hi everybody,

We paid Rs.5000 to employee (prepayment) he spent Rs.4000 now he is resigned the company.Now how can i refund rest Rs.1000 from employee.
This is the situation in payaple how we can set up.can you please tell me through steps.

Thanks

Srikanth

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Re: Refund from employee [message #242245 is a reply to message #242024]

Fri, 01 June 2007 04:34

vin_odks
Messages: 153
Registered: July 2006
Location: -

Senior Member

Steps
1) Catch hold of the employee (by the collar)
2) Ask him "GIVE THE MONEY BACK"
3) Once money is collected, raise Debit Memo and match them with the prepayment!!

Hope this solves your problem Laughing

Regards
Vinod

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Re: Refund from employee [message #242264 is a reply to message #242245]

Fri, 01 June 2007 07:37

prashant_pathak
Messages: 263
Registered: February 2006
Location: California,US

Senior Member

Really...good solutions.... Laughing

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Re: Refund from employee [message #242625 is a reply to message #242245]

Mon, 04 June 2007 06:37

kumar_apps
Messages: 51
Registered: November 2006
Location: hyderabad

Member

dynamic solution to a great question........
applaud

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Re: Refund from employee [message #246350 is a reply to message #242625]

Wed, 20 June 2007 12:52

bosekoushik
Messages: 1
Registered: June 2007

Junior Member

creat payment as Payment types as refund. Then creat standard invoice for the expenses and apply the prepayment on that invoice. The accounting entries being generated are
Bank
To Prepayment

Expenses
To liability

Liability
To prepayment

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