Interest recevied from Canada Revenue Agency

Since you deducted the expenses in 2008 to receive that refund, it IS taxable income for 2009 so Other Income is appropriate. Or at least it would be in the USA.

jayesh had written this in response to

I received advance payment from the customer before creating an invoice. Using QB Pro 2009, this paymnet was credited to the name of customer under item paymnet. Then partial amount was adjusted against the invoice and the remaining amount was retured to the customer by cheque. How to link this retuned paymnet with advance paymnet that stll showed as a credit on the name of the customer. No doubt "open balance" for that customer is $0.00, but "open balance report" showed both the amount i.e. credit balance as well as retuened amount. I appreciate your feed back.

Jayesh Shah

Randy

Thank you for your help. Yes, it can work the way you showed but when I received payment I have to post it as money is already in bank account. And when I creat an invoice I adjust the invoice against that payment as it shows as credit for that customer. And it also link with it. But the problem this time is that partial payment is adjusted against the invoice and it also linked with that invoice. But the remaining credit and returned amount through chqeue is not linked. Please can you light on it. Thank you.

Jayesh Shah

------------------------------------- Laura wrote:

Thanks Laura for your help Jayesh Shah

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