Education
Tuition Overcharge Credit Refund
Refunding a student who was incorrectly billed a higher tuition rate.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Tuition Revenue (Adjustment) | Revenue (-) | 300.00 | - |
| Cash / Bank (Refund) | Asset (-) | - | 300.00 |
💡 Accountant's Note
Billing errors require a revenue reversal equal to the overcharge amount. If the error was in a prior period, the adjustment goes through the current period rather than restating historical figures.
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