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How to categorise refunds
How to categorise refunds

Customer refund transactions in Solo

Brent Wilson avatar
Written by Brent Wilson
Updated over 9 months ago

When you refund a customer there are two ways you can handle the refund in Solo:

  • Categorise the refund expense as 'General merchandise'.

  • Or, simply archive the refund and the original income transaction (you can also edit the income transaction if it's only a partial refund).

Either of these options will cancel out the original income transaction on your tax return.

When a payment you have made is refunded to you there are also two ways you can handle the refund in Solo:

  • Categorise the refunded income as 'Zero-rated supplies' (if the payment had no GST) or 'Self-employed income' (if the payment did include GST).

  • Or archive the refund and the original expense transaction (you can also edit the expense transaction if it's only a partial refund).

Either of these options will cancel out the original expense transaction on your tax return.

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