Processing Returned Payments

Returned payments can occur due to incorrect bank account details, invalid superannuation information, or over payments. The following process ensures that returned payments are correctly recorded and reconciled.

Step 1: Process the Returned Payment

Record the returned payment as a negative payment in JobBag.

Navigation:Accounts > Create payments

1. Create a negative payment using the Don't Credit payment option
2. Allocate the transaction to a Suspense Account on the Balance Sheet

The negative payment can then be reconciled against the returned payment transaction during the bank reconciliation process. This transfers the amount to the Suspense Account, where it can be held while the underlying issue is investigated and resolved.

Step 2: Resolve the Underlying Issue

Incorrect Bank Details

1. Update the supplier record with the correct bank account details
2. Create a new payment in JobBag and allocate it to the Suspense Account
3. Process the replacement payment manually through your online banking platform

Incorrect Superannuation Information

1. Update the employee, talent, or freelancer record with the correct superannuation fund details
2. Create a new payment in JobBag and allocate it to the Suspense Account
3. Process the superannuation contribution manually through your superannuation clearing house or super portal

Over payment of a Supplier Invoice

1. Edit Paid Supplier Invoices . See instructions on how to do this!
2. Reapply the original payment
3. Allocate any variance to the Suspense Account
4. Save the updated supplier invoice

Step 3: Reconcile the Suspense Account

The Suspense Account should be reviewed and reconciled regularly to ensure all returned payments have been resolved promptly.

Any outstanding balances should be investigated and cleared as soon as possible to maintain accurate financial records.