Returned wire transfer

Question

I paid vendor $1500 but the wire bounced to us in amount of $1460. We paid $1500 again. How do I record it? 
 
 Thank You, 
 Margaret

Alwyn · Accepted Answer

When the funds were received from the bank it should have been applied to the Accounts Payable module for the vendor. This entry would have been on a vendor invoice showing as a negative amount reversing original payment using the bank account. This would leave the Accounts Payable Vendor account with an outstanding invoice requiring to be paid. Then the second payment would be against the outstanding invoice.

Sage 50 Canada

Returned wire transfer

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