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Old 10-08-2019, 12:52 PM
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AmyKidsCo AmyKidsCo is offline
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Join Date: Mar 2013
Location: Wisconsin
Posts: 3,786
Default How to Record Refund?

I have parents pay for their last 2 weeks up front, in case they leave without giving notice.

Last week I terminated a family's contract and refunded the amount they'd paid for their last week of care. Since they started 18 months ago the last 2 week payment was recorded as income and tax paid on it back then.

Do I record the refund as an expense?
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