Bank statement

rasras Registered User new member
If you buy using business debit card and get refund by cash,do the bank statement show for instance,i bought paint for $260 and need to return back valued for $130 if the refund is given in cash does it show that there was $130 cash refund on bank statement?

Posts

  • CauldCauld Registered User regular
    I think it would only show the $260 charge on the receipt. The cash refund has no bearing on the business account if I'm understanding the situation correctly. That being said, if this is your employer's card you should return the cash refund to your employer and explain the situation.

    Elvenshae
  • NoizlanifNoizlanif MMO-Whore Registered User regular
    It would not show the cash refund on the Bank Statement, however, your employer could pull the receipt, or request the receipt and dispute the charge if they find it not in line with their accounted for transactions. If that does happen, the merchant will tell your company that the charge was partially refunded. So, you know talk to your employer.

    Rainfall
  • Eat it You Nasty Pig.Eat it You Nasty Pig. tell homeland security 'we are the bomb'Registered User regular
    the correct course would be to get a receipt from the entity issuing the cash refund, so that you can later show how much you drew from the account vs. what you received in cash.

    NREqxl5.jpg
  • MichaelLCMichaelLC In what furnace was thy brain? ChicagoRegistered User regular
    This is why business debit cards are a bad idea; creates accounting discrepancies.

    If it was a CC, the refund would show on the statement as a credit from the store.

    Echo wrote: »
    Something working on the first try is a source of great suspicion.
    zepherinElvenshae
  • zepherinzepherin Registered User regular
    So no it generally doesn't, but and this is a big butt, most construction companies (especially big ones) look for this type of fraud. I have my superintendent do end of job inventories, and then create a log of recycled materials and products to return, and then match those up with receipts and refunded cash. At the company I used to work at, once that Process was introduced, it resulted in a 3k-4k in extra earnings, pretty much 1% of the job was disappearing, and the big companies (Turner, Whiting Turner, Bechtel, KBR) know this so they do end of job inventories.

  • DjeetDjeet Registered User regular
    If you got cash refund then no. It won't reflect on the bank statement because the bank wasn't involved in the refund. The vendor gave you the cash back, not the bank. So the debit card is still minus $260, while you have $130.

    In situations like this you should document what happened (you got a cash refund, amount and date, details of what got returned) and when you turned in the cash. Just to cover your ass, so if there is a reckoning there is a paper trail to absolve you of any theft allegation.

  • tastydonutstastydonuts Registered User regular
    edited September 2017
    zepherin wrote: »
    So no it generally doesn't, but and this is a big butt, most construction companies (especially big ones) look for this type of fraud. I have my superintendent do end of job inventories, and then create a log of recycled materials and products to return, and then match those up with receipts and refunded cash. At the company I used to work at, once that Process was introduced, it resulted in a 3k-4k in extra earnings, pretty much 1% of the job was disappearing, and the big companies (Turner, Whiting Turner, Bechtel, KBR) know this so they do end of job inventories.

    Yeah, this was a lesson to me from a bad contractor experience I had. But they put it into store gift cards so it never converted back to hard cash or a refund.

    It sounds like you bought $260 dollars worth of paint but only used half of it?

    They would see a credit for $130 dollars on their statement. To the OP, I hope that you received a receipt reflecting the returned value or something to show that you didn't pocket it? Not saying that you would, but to cover yourself.

    edit: sorry, misread. if it got converted to cash instead of a credit/debit refund then it wouldn't show, same as the gift cards. but I would be very careful about that situation.

    tastydonuts on
    “I used to draw, hard to admit that I used to draw...”
  • HevachHevach Registered User regular
    To add to zepherin's post: during my retail days as a supervisor I helped bigger customers with end of job inventories. They would bring their receipts for anything unaccounted for just after the 90 day return window and I'd print up any connected returns, complete with signatures. Many larger retailers will even have a security camera snapshot connected. Some retailers will even have a single account documenting all their receipts both ways, this was the case for me at Harbor Freight, but it's not the case at less specialty stores. Still, the original receipt will have any returns from it.


    So always keep chain of custody in mind, any money you get back, have your own documentation of getting it and who you gave it to.

    A few contractors bought us supervisors dinner for helping them catch losses, and I know at least one time I got a steak and an innocent employee like you got fired because he didn't document chain of custody and his foreman pocketed a large return on a welder, pinning it on him.

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