Receiving refund for a purchase paid twice

AKATSOULAS

Hi, I am not coming from accounting background but I try to use Wave to keep my company's accounting records. I have a very question on a situation that I just got in:
I paid by mistake twice for a hotel stay with a direct payment through my company bank account. I raised a refund request to the hotel and they refunded the amount back to my company bank account. Please could you assist me on how should I capture all the activities?

EnsignBellaRo

Hey @AKATSOULAS! So you'll have three transactions on Wave, in the end. You should add two expense transactions from your bank account, with the appropriate expense category (you might need to add your own to your Chart of Accounts, something like "Accommodations"?)

After that, create and income transaction and categorize it as "Refund for an expense. Choose the same category as for the two others. It'll cancel out one of the expenses and your numbers should all match your bank statement.