Record the actual refund and what happens to the money, then obtain review of its effect on the qualifying investment. Do not continue showing the original payment as unchanged if funds were returned. Replacement purchases may create different documented commitments, but a plan to reinvest is not the same as a completed transaction.
Recalculate without double counting old and replacement stock
Show the original payment, credit or refund, and any new supplier payment as separate linked entries. Reconcile currency differences where relevant. Keep the operating budget current so the business can obtain what it needs after closing.
Funds retained for personal use should not be silently included as if they remained committed to the enterprise. Show the money's actual journey rather than its intended one. Where a refund was paid into a personal account and later transferred to the business, record both legs; where it was set off against a later invoice, record the set-off.
Hypothetical example: a buyer of a medical courseware distribution business receives a credit for stock that was already superseded, spends part of it on current editions from a different supplier, and keeps the rest. The reinvested part and the retained part must appear differently in the record, because only one of them remains committed to the enterprise. Ask the accountant to reconcile the investment schedule against the business's own books at a fixed date and to note any difference with its reason, so nobody has to explain a discrepancy under time pressure later.