Start a new topic

How to process refund from previous month

If you started tracking your expenses say in Sept and you will be refunding an item you purchased say 2 months ago, what's the best way to process the refund. The refund will be on a credit card.

Dear Mike,

Currently in MoneyWiz you need to indicate an expense that the refund is targeted at. From 2.5 update coming soon you'll be able to offset a particular category by a certain amount so it'll be possible to refund "a category" instead of a certain transaction.

Can you explain how I do this on Moneywiz 2.6.3?

I use to be refund on GAS, so I create a "Gas Refund" category? After that what should I do? When a click refund on a transaction On the Payee I put my name? Or the place that I spend the money?


Hello! There's no need to create a new category!

If you want to refund a single transaction, please find the expense transaction in Gas category, click on it to expand it (or right-click) then click on Options -> Refund (or just Refund if you've right-clicked). Enter the amount you've been refunded and save the refund. A new income will be placed in your account.

If you want to refund more than one transaction, please start creating a new transaction, choose the Expense type, in the amount type the amount you've been refunded (for example 15) but type it with a minus (so -15). That's a negative expense so it's basically an income (two minuses make a plus). Choose the Gas expense category and save the transaction. It's an expense transaction but with a minus amount so it's a positive amount overall.

You can read more about refunds here: 

Login or Signup to post a comment