How should refunds be handled?
When a refund occurs, for example due to the return of a product or cancellation of a service, it should be accounted for in the same way as the original transaction. This means that all accounting components – including VAT, account allocation, and any dimensions – should match the original transaction as closely as possible.
The refund should also be assigned to the same category that was used for the original purchase. This is important to ensure accurate tracking, analysis, and reporting, and to allow the transaction to be matched correctly in Nordea.
Once this information has been entered correctly, Nordea will automatically handle the refund correctly in the accounting. This includes adjusting the VAT and accounting entries. This ensures an accurate and complete overview of both your expenses and any refunds.