Advance Refund

Here are the steps for Bank Advance Refund Transaction. To learn more, you can also watch this RADIX Online tutorial video:

Bank Advance Refund Transaction

For Bank Advance Refund Transaction in Radix, first select the desired company.

1. Go to Transactions > Bank > Payments > Single.

2. 'Choose a day-book' form will open. List of day-books will be displayed, select the day-book in which you want to do bank advance refund transaction and click on OK button or press Enter.

In case of a new day-book, click on New button and Create Daybooks .

3. Entry form will open for the selected Bank day-book. Enter all the details such as:

Document # - Enter the voucher number here.

Date - Enter the transaction date as written in the cheque.

Account - Press F4 button, accounts list will be displayed. Select the desired account from here or type the account name directly.

In case of a new account, click on New button and Create Account.

Cheque No & Cheque Date - Enter the Cheque number and Cheque date as written in the cheque.

Particulars - Enter Cheque related information, if any.

Amount - Enter the payment amount as written in the Cheque.

You can enter the fields you want to and leave rest of the fields blank and proceed.

4. In GST Entry Type, select Advance Refund option from the list of options displayed.

5. After selecting Advance, enter other details such as:

Commodity (HSN) - Press F4 button and select the HSN/SAC from the list displayed or type the HSN/SAC directly.

In case of new HSN/SAC, click on New button and Create HSN/SAC.

Reverse Charge? - Tick this option, if buyer is going to pay the tax, otherwise untick the check-box and proceed.

State of Supply - This field will be filled automatically on selecting the account. However, if you want, you can change it.

Advance Voucher Number - Enter the advance voucher number against which you are doing refund transaction.

Advance Voucher Date - Enter the advance voucher date.

6. Once all the required details are entered, Tax will be calculated automatically, click on Save button. Your Bank Advance Refund Transaction will be saved.

7. New button will be activated. Click on New button and start with step 4 for new transaction.