Deposit a refund check and clear negative accounts payable

Forum|Forum|7 years ago
January 5, 2019
1 reply
15 views

We've been carrying a negative balance for a vendor on our accounts payable for credit invoices that we received when we returned materials. The vendor has now issued us a refund check for those credits. How do I record the deposit and clear the negative balance on the payables?

QuickBooks Desktop

Best answer by Rustler

deposit the check and use accounts payable as the source account for the deposit, use the vendor name too

then in pay bills, select the bill the deposit created and apply the credit

RustlerAnswer

Level 15

deposit the check and use accounts payable as the source account for the deposit, use the vendor name too

then in pay bills, select the bill the deposit created and apply the credit

Sign up

Login with SSO

Let's get you signed in

Login with SSO