Skip to main content
March 31, 2023
Solved

If item not delivered, is money paid then returned still a "return?"

  • March 31, 2023
  • 1 reply
  • 0 views

A customer pre-paid for an ordered item.  After the item arrived, I returned the money (the customer never took delivery of the item), and placed the item in my inventory.  Does this still count as a "return" under "Business Income - Income You Gave Back"?

Best answer by AliciaP1

You can either report the income from when you received the money and then the return when you paid it back or you can just let them cancel each other out and not report either specifically.  Either treatment is acceptable.

1 reply

AliciaP1
AliciaP1Answer
March 31, 2023

You can either report the income from when you received the money and then the return when you paid it back or you can just let them cancel each other out and not report either specifically.  Either treatment is acceptable.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"