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Reimbursements for overcharges

Joined: 2 years ago
Posts: 1
Topic starter  

Hello -

I recently ran into the situation that a vendor over billed a client, and when the errors were found, wrote a check to the client for over 6k. The client recorded the check as ordinary income.

What is the proper way to record this transaction?

Thank you.

Joined: 2 years ago
Posts: 162

Personally, I would post the refund/return, back to the same account it was originally expensed to.


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